Examples of recent questions relating to leasehold conveyancing in New Malden
I have just appointed agents to market my 2 bed flat in New Malden.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?
It best that you discharge 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in New Malden. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in New Malden ?
Most houses in New Malden are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in New Malden in which case you should be looking for a New Malden conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
My wife and I purchased a leasehold flat in New Malden. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in New Malden who acted for me is not around.What should I do?
The first thing you should do is contact 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 New Malden conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold property in New Malden. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, 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).
I am a negotiator for a busy estate agency in New Malden where we have experienced a few flat sales put at risk due to short leases. I have received contradictory information from local New Malden conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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.
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Malden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a New Malden conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a New Malden property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.