Frequently asked questions relating to Harrow on the Hill leasehold conveyancing
I am in need of some leasehold conveyancing in Harrow on the Hill. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Harrow on the Hill - then the leasehold title will always include the basic details 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.
Looking forward to exchange soon on a garden flat in Harrow on the Hill. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Harrow on the Hill should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Are you allowed to have a pet in the flat?
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What you can do if a neighbour breach a clause of their lease?
- What the implications are if you breach a clause of your lease?
Estate agents have just been given the go-ahead to market my ground floor apartment in Harrow on the Hill.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?
The sensible thing to do is clear the invoice 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2006, I bought a leasehold flat in Harrow on the Hill. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Harrow on the Hill who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Harrow on the Hill conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two flats in Harrow on the Hill which have about fifty years left on the leases. should I be concerned?
There are no two ways about it. A leasehold flat in Harrow on the Hill is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. 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 premises 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 Harrow on the Hill 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Harrow on the Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Lease Extension matter before the tribunal for a Harrow on the Hill property is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 75.25 years.
Harrow on the Hill Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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It would be sensible to find out as much as possible concerning the company managing the block as they can either make life much simpler or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the communal areas. Enquire of prospective neighbours what they think of them. On a final note, be sure you know the dates that the service fees are due to the managing agents and specifically how they are spending the funds.
Is anyone aware of any major works on the horizon that will add a premium to the maintenance fees?