Examples of recent questions relating to leasehold conveyancing in Lee
There are only 62 years unexpired on my lease in Lee. I now wish to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have used your best endeavours to find the lessor. On the whole a specialist would be useful to carry out a search and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court covering Lee.
I am hoping to exchange soon on a studio apartment in Lee. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Lee should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my ground floor flat in Lee.Conveyancing has not commenced but I have just had a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Lee. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Lee are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Lee in which case you should be looking for a Lee conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Lee conveyancing firm to help?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Lee premises is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case was in relation to 3 flats. The unexpired term was 69.05 years.
In relation to leasehold conveyancing in Lee what are the most frequent lease problems?
Leasehold conveyancing in Lee is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
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. Accord Mortgages Ltd, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.