Harold Wood leasehold conveyancing: Q and A’s
I only have Seventy years unexpired on my lease in Harold Wood. I need to extend my lease but my landlord is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the lessor. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Harold Wood.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Harold Wood. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Harold Wood are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Harold Wood so you should seriously consider shopping around for a Harold Wood conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
Back In 2001, I bought a leasehold house in Harold Wood. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Harold Wood who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Harold Wood conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Harold Wood. Am I liable to pay service charges for periods before completion of my purchase?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Can you provide any advice for leasehold conveyancing in Harold Wood with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Harold Wood can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
- If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Harold Wood leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such alterations. If you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer first.
We have reached the end of our tether in trying to purchase the freehold in Harold Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Harold Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Harold Wood residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 57.5 years.