Frequently asked questions relating to Holborn leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Holborn. I now want to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. You will be obliged to prove that you have done all that could be expected to find the lessor. On the whole an enquiry agent would be useful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Holborn.
I am hoping to exchange soon on a studio apartment in Holborn. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Holborn should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Estate agents have just been given the go-ahead to market my garden apartment in Holborn.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Holborn. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Holborn are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Holborn so you should seriously consider looking for a Holborn conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
Can you provide any advice for leasehold conveyancing in Holborn from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Holborn can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
- Many landlords or Management Companies in Holborn levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Holborn.
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Holborn. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a Holborn flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The the unexpired residue of the current lease was 66.8 years.