Lower Morden leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Lower Morden. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Lower Morden - 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 ground floor flat in Lower Morden.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay 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 Lower Morden. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Lower Morden who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Lower Morden conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two flats in Lower Morden which have in the region of 50 years left on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in Lower Morden from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lower Morden can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Lower Morden leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Where you fail to have the approvals in place do not communicate with the landlord without checking with your solicitor before hand.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Lower Morden. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Lower Morden conveyancing firm who can help.
An example of a Lease Extension decision for a Lower Morden premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The remaining number of years on the lease was 60.43 years.