Recently asked questions relating to Isle of Dogs leasehold conveyancing
I am in need of some leasehold conveyancing in Isle of Dogs. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Isle of Dogs - then the leasehold title will always include the short particulars 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 have recently realised that I have 68 years left on my lease in Isle of Dogs. I now wish to get lease extension but my landlord is absent. What options are available to me?
If you qualify, 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 mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. For most situations an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Isle of Dogs.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Isle of Dogs. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Isle of Dogs ?
Most houses in Isle of Dogs are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Isle of Dogs so you should seriously consider looking for a Isle of Dogs conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold house in Isle of Dogs. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up trying to purchase the freehold in Isle of Dogs. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Isle of Dogs conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Isle of Dogs residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired lease term was 101.61 years.
Are there common defects that you encounter in leases for Isle of Dogs properties?
Leasehold conveyancing in Isle of Dogs is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and Bank of Ireland all have very detailed requirements 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 grant the mortgage, forcing the purchaser to pull out.
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