Havering-atte-Bower leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Havering-atte-Bower. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Havering-atte-Bower - 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.
I am attracted to a couple of flats in Havering-atte-Bower both have approximately 50 years left on the lease term. Do I need to be concerned?
A lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field
I've recently bought a leasehold house in Havering-atte-Bower. Am I liable to pay service charges relating to a period prior to my ownership?
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 finding a Havering-atte-Bower conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Havering-atte-Bower conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Havering-atte-Bower conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
We expect to complete our sale of a £325000 maisonette in Havering-atte-Bower next week. The management company has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Havering-atte-Bower?
Havering-atte-Bower conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I have had difficulty in trying to purchase the freehold in Havering-atte-Bower. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to calculate the price.
An example of a Lease Extension decision for a Havering-atte-Bower 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 unexpired term was 57.5 years.