Hither Green leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Hither Green. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Hither Green - 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.
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Hither Green. I am keen to get lease extension but my landlord is missing. 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent would be helpful to conduct investigations and prepare a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Hither Green.
What advice can you give us when it comes to choosing a Hither Green conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Hither Green conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Hither Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- Can they put you in touch with client in Hither Green who can give a testimonial?
- What are the charges for lease extension conveyancing?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 400000 maisonette in Hither Green in nine days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Hither Green?
Hither Green conveyancing on leasehold flats nine out of ten times results in administration charges levied by managing agents :
- Answering pre-exchange questions
- Where consent is required before sale in Hither Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hither Green conveyancing firm to represent me?
Most certainly. We can put you in touch with a Hither Green conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Hither Green property is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case related to 3 flats. The the unexpired residue of the current lease was 69.05 years.
What makes a Hither Green lease unmortgageable?
Leasehold conveyancing in Hither Green is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements 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. Accord Mortgages Ltd, Virgin Money, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
I purchased a garden flat in Hither Green, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Hither Green with over 90 years remaining are worth £215,000. The ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2081
With just 55 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.