Recently asked questions relating to Leyton leasehold conveyancing
I have just appointed agents to market my garden flat in Leyton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 own a leasehold flat in Leyton. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Leyton who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Leyton conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Leyton both have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
Last month I purchased a leasehold property in Leyton. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to finding a Leyton conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Leyton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Leyton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- What volume of lease extensions has the firm conducted in Leyton in the last twenty four months?
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Leyton conveyancing firm to represent me?
Most definitely. We can put you in touch with a Leyton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Leyton flat is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case affected 2 flats. The the unexpired term as at the valuation date was 72.02 years.
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