Sample questions relating to Hornchurch leasehold conveyancing
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Hornchurch. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Hornchurch ?
The majority of houses in Hornchurch are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Hornchurch so you should seriously consider looking for a Hornchurch conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being 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. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold house in Hornchurch. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Hornchurch who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Hornchurch 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.
I am employed by a long established estate agency in Hornchurch where we have experienced a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Hornchurch conveyancing firms. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you offer any advice when it comes to finding a Hornchurch conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Hornchurch conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Hornchurch conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Hornchurch from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Hornchurch can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
- Many landlords or managing agents in Hornchurch charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Hornchurch.
I inherited a ground-floor 1960’s flat in Hornchurch. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Hornchurch conveyancing firm who can help.
An example of a Lease Extension case for a Hornchurch residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term was 57.5 years.