Muswell Hill leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Muswell Hill. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Muswell Hill - 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.
Back In 2009, I bought a leasehold house in Muswell Hill. Conveyancing and Aldermore 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 1991. The conveyancing solicitor in Muswell Hill who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Muswell Hill conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, 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 looking at a two flats in Muswell Hill which have approximately fifty years remaining on the lease term. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field
Completion in due on our sale of a £150000 maisonette in Muswell Hill in just under a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Muswell Hill?
Muswell Hill conveyancing on leasehold maisonettes normally involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Muswell Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Muswell Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Muswell Hill premises is Flat B 10 Grove Avenue in October 2013. Following a vesting order Clerkenwell and Shoreditch County Court 3rd July 2013 The tribunal determines that the premium payable for the lease extension was £36,215.00 This case was in relation to 1 flat. The remaining number of years on the lease was 65.21 years.
In relation to leasehold conveyancing in Muswell Hill what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Muswell Hill. Most leases are unique and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- 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. Nationwide Building Society, Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.