Top Five Questions relating to Harrow Weald leasehold conveyancing
There are only Fifty years remaining on my lease in Harrow Weald. I need to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, 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 magistrate. However, you will be required to prove that you have used your best endeavours to find the lessor. For most situations a specialist should be useful to try and locate and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Harrow Weald.
I am hoping to sign contracts shortly on a garden flat in Harrow Weald. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Harrow Weald should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Harrow Weald. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Harrow Weald are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Harrow Weald so you should seriously consider shopping around for a Harrow Weald conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.
Can you provide any top tips for leasehold conveyancing in Harrow Weald from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Harrow Weald can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Harrow Weald charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Harrow Weald.
I inherited a second floor flat in Harrow Weald. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Absolutely. We are happy to put you in touch with a Harrow Weald conveyancing firm who can help.
An example of a Lease Extension case for a Harrow Weald premises 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 residue of the current lease was 75.25 years.
What are the common defects that you witness in leases for Harrow Weald properties?
There is nothing unique about leasehold conveyancing in Harrow Weald. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.