Nine Elms leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Nine Elms. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Nine Elms - 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.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Nine Elms. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Nine Elms ?
The majority of houses in Nine Elms are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Nine Elms in which case you should be looking for a Nine Elms conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.
I own a leasehold house in Nine Elms. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Nine Elms who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Nine Elms conveyancing lawyer to do this as it can be done on-line for £3. You should note 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.
Can you offer any advice when it comes to finding a Nine Elms conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Nine Elms conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Nine Elms conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How many lease extensions has the firm carried out in Nine Elms in the last year?
All being well we will complete the disposal of our £250000 apartment in Nine Elms on Tuesday in a week. The managing agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Nine Elms?
Nine Elms conveyancing on leasehold maisonettes typically necessitates fees being raised by management companies :
- Answering pre-exchange questions
- Where consent is required before sale in Nine Elms
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Nine Elms. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is dispute 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 assess the price payable.
An example of a Lease Extension decision for a Nine Elms premises is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case related to 1 flat. The the unexpired term as at the valuation date was 57.06 years.