Common questions relating to Kingsbury leasehold conveyancing
I am on look out for some leasehold conveyancing in Kingsbury. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - 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 have just appointed agents to market my basement apartment in Kingsbury.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 management companies 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.
My wife and I purchased a leasehold house in Kingsbury. Conveyancing and Platform Home Loans Ltd mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Kingsbury who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Kingsbury conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of flats in Kingsbury both 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 right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena
What advice can you give us when it comes to appointing a Kingsbury conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Kingsbury conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Kingsbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Kingsbury conveyancing firm to act on my behalf?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Lease Extension decision for a Kingsbury premises 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 related to 1 flat. The unexpired term was 70.25 years.
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