Keston leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Keston. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and most are in Keston - 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.
There are only 72 years unexpired on my flat in Keston. I need to get lease extension but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. For most situations an enquiry agent may be helpful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Keston.
Looking forward to exchange soon on a basement flat in Keston. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Keston should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
If all goes to plan we aim to complete the sale of our £500000 apartment in Keston next week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Keston?
Keston conveyancing on leasehold flats normally necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.
My wife and I have hit a brick wall in trying to purchase the freehold in Keston. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Keston conveyancing firm who can help.
An example of a Lease Extension case for a Keston premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired lease term was 50.57 years.
Are there frequently found problems that you witness in leases for Keston properties?
There is nothing unique about leasehold conveyancing in Keston. All leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- 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
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.