Hainault leasehold conveyancing: Q and A’s
There are only 72 years unexpired on my lease in Hainault. I now want to get lease extension but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Hainault.
I am hoping to sign contracts shortly on a studio apartment in Hainault. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hainault should include some of the following:
- Does the lease prohibit wood flooring?
I am attracted to a couple of apartments in Hainault both have about forty five years unexpired on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Last month I purchased a leasehold flat in Hainault. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to choosing a Hainault conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Hainault conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Hainault conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- Can they put you in touch with client in Hainault who can give a testimonial?
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Hainault. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Hainault conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Hainault flat is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The the unexpired residue of the current lease was 69.26 years.