Examples of recent questions relating to leasehold conveyancing in Homerton
I am hoping to sign contracts shortly on a leasehold property in Homerton. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Homerton should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold house in Homerton. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Homerton who acted for me is not around.What should I do?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Homerton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to choosing a Homerton conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Homerton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Homerton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
Do you have any advice for leasehold conveyancing in Homerton from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Homerton can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Homerton charge 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 as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Homerton.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Homerton conveyancing firm to assist?
Absolutely. We are happy to put you in touch with a Homerton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Homerton flat is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case affected 10 flats. The remaining number of years on the lease was 71.25 years.
What are the frequently found deficiencies that you encounter in leases for Homerton properties?
There is nothing unique about leasehold conveyancing in Homerton. All leases are individual and drafting errors can result in certain sections are missing. 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.