Highams Park leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Highams Park. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and most are in Highams Park - 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.
Back In 2004, I bought a leasehold flat in Highams Park. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Highams Park who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Highams Park conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Highams Park conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Highams Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Highams Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Highams Park from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Highams Park can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
- Many freeholders or Management Companies in Highams Park levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Highams Park.
I own a garden flat in Highams Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Highams Park premises is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case related to 2 flats. The the unexpired term as at the valuation date was 104 years.
When it comes to leasehold conveyancing in Highams Park what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Highams Park. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Aldermore all have very detailed conveyancing instructions 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, obliging the purchaser to pull out.
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