Recently asked questions relating to Hampton leasehold conveyancing
I am on look out for some leasehold conveyancing in Hampton. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Hampton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
There are only 62 years left on my flat in Hampton. I need to get lease extension but my freeholder is missing. What options are available to me?
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 granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Hampton.
I’m about to sell my garden flat in Hampton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a couple of maisonettes in Hampton both have in the region of fifty years remaining on the leases. should I be concerned?
There is no doubt about it. A leasehold apartment in Hampton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hampton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 flat in Hampton in 8 days. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Hampton?
Hampton conveyancing on leasehold flats usually necessitates fees being invoiced by managing agents :
- Completing pre-exchange enquiries
- Where consent is required before sale in Hampton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Hampton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Hampton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hampton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The the unexpired residue of the current lease was 82.93 years.