Recently asked questions relating to Ladywell leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Ladywell. I now want to get lease extension but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations a specialist should be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Ladywell.
I have just started marketing my ground floor apartment in Ladywell.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – what should I do?
It best that you 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Ladywell. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Ladywell are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ladywell in which case you should be shopping around for a Ladywell conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant 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 maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
Back In 2005, I bought a leasehold house in Ladywell. Conveyancing and HSBC Bank mortgage organised. 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 1992. The conveyancing practitioner in Ladywell who acted for me is not around.What should I do?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ladywell conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agency in Ladywell where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Ladywell conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the leaseholder of a ground-floor 1960’s flat in Ladywell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Freehold Enfranchisement case for a Ladywell property is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case was in relation to 2 flats. The unexpired lease term was 74.25 years.