Top Five Questions relating to Kennington leasehold conveyancing
I only have Seventy years remaining on my flat in Kennington. I now wish to extend my lease but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. In some cases a specialist would be useful to carry out a search and to produce a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Kennington.
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Kennington. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Kennington ?
The majority of houses in Kennington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Kennington in which case you should be looking for a Kennington conveyancing solicitor and check that they are used to transacting on 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 to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold house in Kennington. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Kennington who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Kennington conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two apartments in Kennington which have about forty five years left on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena
We expect to complete the disposal of our £325000 apartment in Kennington next Wednesday . The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kennington?
Kennington conveyancing on leasehold apartments more often than not necessitates the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I own a second floor flat in Kennington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
You certainly can. We are happy to put you in touch with a Kennington conveyancing firm who can help.
An example of a Lease Extension case for a Kennington premises is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case affected 1 flat. The remaining number of years on the lease was 74.77 years.