Recently asked questions relating to Kingsbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kingsbury. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Kingsbury - 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've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Kingsbury. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Kingsbury are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Kingsbury so you should seriously consider looking for a Kingsbury conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.
Back In 2007, I bought a leasehold flat in Kingsbury. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Kingsbury who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Kingsbury conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of maisonettes in Kingsbury which have about fifty years remaining on the leases. Will this present a problem?
There are plenty of short leases in Kingsbury. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field
Do you have any advice for leasehold conveyancing in Kingsbury with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Kingsbury can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
- Many landlords or managing agents in Kingsbury charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Kingsbury.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Kingsbury conveyancing firm to help?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to assess the amount due.
An example of a Lease Extension case for a Kingsbury residence is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case was in relation to 1 flat. The unexpired term was 70.25 years.