Sample questions relating to Nine Elms leasehold conveyancing
I only have 62 years left on my flat in Nine Elms. I now want to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. On the whole an enquiry agent may be helpful to try and locate and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court overseeing Nine Elms.
Looking forward to exchange soon on a studio apartment in Nine Elms. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Nine Elms 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 am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Nine Elms. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Nine Elms are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Nine Elms in which case you should be shopping around for a Nine Elms conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
Last month I purchased a leasehold house in Nine Elms. Am I liable to pay service charges relating to a period prior to 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. It is an essential part 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).
All being well we will complete our sale of a £150000 maisonette in Nine Elms in 5 days. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Nine Elms?
Nine Elms conveyancing on leasehold maisonettes often necessitates the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Nine Elms. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the price.
An example of a Lease Extension matter before the tribunal for a Nine Elms residence 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 residue of the current lease was 57.06 years.