Examples of recent questions relating to leasehold conveyancing in Hendon
Expecting to sign contracts shortly on a leasehold property in Hendon. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hendon should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Hendon. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Hendon ?
Most houses in Hendon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Hendon in which case you should be shopping around for a Hendon conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. 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’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.
I've recently bought a leasehold flat in Hendon. Am I liable to pay service charges for periods before 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. 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).
Do you have any top tips for leasehold conveyancing in Hendon from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Hendon can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hendon state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you dont have the approvals in place do not contact the landlord without contacting your solicitor before hand.
I have given up trying to purchase the freehold in Hendon. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Hendon conveyancing firm who can help.
An example of a Lease Extension case for a Hendon premises is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case affected 1 flat. The the number of years remaining on the existing lease(s) was 71 years.
When it comes to leasehold conveyancing in Hendon what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Hendon. All leases is drafted differently and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
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