Top Five Questions relating to Longford leasehold conveyancing
I am in need of some leasehold conveyancing in Longford. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Longford - 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 started marketing my basement flat in Longford.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – Do I pay up?
It best that you 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 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 am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Longford. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Longford ?
Most houses in Longford are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Longford in which case you should be shopping around for a Longford conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
Last month I purchased a leasehold property in Longford. Do I have any liability for service charges for periods before my ownership?
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 be sure 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 Longford conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Longford conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Longford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Longford conveyancing firm to act on my behalf?
You certainly can. We can put you in touch with a Longford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Longford flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The the unexpired residue of the current lease was 69 years.