Sample questions relating to Manor Park leasehold conveyancing
I only have 68 years remaining on my flat in Manor Park. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the landlord. On the whole a specialist should be useful to carry out a search and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Manor Park.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Manor Park. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Manor Park are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Manor Park so you should seriously consider shopping around for a Manor Park conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.
I am looking at a two maisonettes in Manor Park both have about forty five years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Manor Park. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area
I am employed by a busy estate agency in Manor Park where we have experienced a few leasehold sales derailed due to short leases. I have been given contradictory information from local Manor Park conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is 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 buyer.
What advice can you give us when it comes to appointing a Manor Park conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Manor Park conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Manor Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Manor Park conveyancing firm to represent me?
Most certainly. We can put you in touch with a Manor Park conveyancing firm who can help.
An example of a Lease Extension decision for a Manor Park property is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the first floor flat. This case affected 2 flats. The unexpired lease term was 65.5 years.
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