Frequently asked questions relating to Ilford leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Ilford. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Ilford - 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.
I own a leasehold house in Ilford. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Ilford who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Ilford conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. 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 advice can you give us when it comes to appointing a Ilford conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Ilford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Ilford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
Completion in due on our sale of a £300000 maisonette in Ilford on Thursday in a week. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Ilford?
For most leasehold sales in Ilford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in Ilford
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Ilford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension decision for a Ilford property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The the unexpired residue of the current lease was 61.36 years.
What are the common problems that you witness in leases for Ilford properties?
There is nothing unique about leasehold conveyancing in Ilford. Most leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Skipton Building Society, and Aldermore 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 does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.