Kingsbury leasehold conveyancing Example Support Desk Enquiries
Due to complete next month on a studio apartment in Kingsbury. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kingsbury should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Kingsbury. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Kingsbury are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Kingsbury so you should seriously consider shopping around for a Kingsbury conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2001, I bought a leasehold house in Kingsbury. Conveyancing and Accord Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Kingsbury who acted for me is not around.Any advice?
First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Kingsbury conveyancing firm to do this as you can do this on the Land Registry website for a few pound. 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.
Can you provide any top tips for leasehold conveyancing in Kingsbury from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Kingsbury can be bypassed where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Kingsbury state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you dont have the paperwork to hand do not contact the landlord without checking with your lawyer in the first instance.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Kingsbury conveyancing firm to act on my behalf?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to determine the price payable.
An example of a Lease Extension decision for a Kingsbury flat 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 the number of years remaining on the existing lease(s) was 70.25 years.
In relation to leasehold conveyancing in Kingsbury what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Kingsbury. Most leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.