Recently asked questions relating to Limehouse leasehold conveyancing
I am in need of some leasehold conveyancing in Limehouse. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Limehouse - then the leasehold title will always include the short particulars 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 am hoping to exchange soon on a leasehold property in Limehouse. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Limehouse should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
- The physical extent of the premises. This will be the flat itself but could also include a roof space or basement if appropriate.
- Defining your rights in respect of the communal areas in the block.By way of example, does the lease provide for a right of way over a path or hallways?
- Does the lease prohibit wood flooring?
- You should have a good understanding of the insurance provisions
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
My wife and I purchased a leasehold house in Limehouse. Conveyancing and TSB mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Limehouse who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Limehouse conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agency in Limehouse where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Limehouse conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Completion in due on the sale of our £ 275000 garden flat in Limehouse on Thursday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Limehouse?
For the majority of leasehold sales in Limehouse conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Limehouse
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Limehouse. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the amount due.
An example of a Freehold Enfranchisement decision for a Limehouse premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.
Leasehold Conveyancing in Limehouse - Sample of Queries Prior to Purchasing
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Does the lease have onerous restrictions?
Is anyone aware of any major works anticipated that could add a premium to the service fees?