Common questions relating to Mottingham leasehold conveyancing
I am in need of some leasehold conveyancing in Mottingham. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Mottingham - 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.
Planning to exchange soon on a studio apartment in Mottingham. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Mottingham should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
I've recently bought a leasehold house in Mottingham. Am I liable to pay service charges for periods before my ownership?
In a situation 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 ensure 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).
What are your top tips when it comes to choosing a Mottingham conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Mottingham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Mottingham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- Can they put you in touch with client in Mottingham who can give a testimonial?
Can you provide any top tips for leasehold conveyancing in Mottingham with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Mottingham can be reduced if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- Many freeholders or managing agents in Mottingham levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mottingham.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Mottingham conveyancing firm to represent me?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Lease Extension decision for a Mottingham property is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case affected 1 flat. The remaining number of years on the lease was 23.26 years.