Examples of recent questions relating to leasehold conveyancing in Mitcham
I am in need of some leasehold conveyancing in Mitcham. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is registered - and almost all are in Mitcham - 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 own a leasehold flat in Mitcham. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Mitcham who acted for me is not around.Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Mitcham conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a busy estate agency in Mitcham where we see a few leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Mitcham conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
As long as 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 proposed purchaser 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 purchaser.
We expect to complete our sale of a £200000 garden flat in Mitcham next Wednesday . The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Mitcham?
Mitcham conveyancing on leasehold flats normally necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are entitled levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Mitcham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Mitcham residence is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case was in relation to 2 flats. The the unexpired residue of the current lease was 86.11 and 60.64.
What makes a Mitcham lease defective?
Leasehold conveyancing in Mitcham is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
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