Keston leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Keston. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Keston - 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 want to rent out my leasehold flat in Keston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A small minority of properties in Keston do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have just started marketing my basement apartment in Keston.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold house in Keston. Conveyancing and Barclays mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Keston who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Keston conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any advice for leasehold conveyancing in Keston with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Keston can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
- Many landlords or managing agents in Keston charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Keston.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Keston leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such works. Should you fail to have the paperwork in place you should not communicate with the landlord without checking with your lawyer first.
- If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming formality and frustrates many a Keston home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.
- You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Keston. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Keston conveyancing firm who can help.
An example of a Lease Extension decision for a Keston residence 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 was in relation to 1 flat. The the unexpired residue of the current lease was 50.57 years.
Keston Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
-
Who manages the building?
Be sure to find out if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Keston. If you love the flatin Keston yet your dog can’t make the move with you then you have a very difficult compromise.
What is the service charge and ground rent on the flat?