Examples of recent questions relating to leasehold conveyancing in North Ockendon
Back In 2005, I bought a leasehold house in North Ockendon. Conveyancing and HSBC Bank mortgage organised. I have received a letter 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 North Ockendon who previously acted has long since retired.What should I do?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a North Ockendon conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to finding a North Ockendon conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a North Ockendon conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non North Ockendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in North Ockendon from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in North Ockendon can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
- Many landlords or managing agents in North Ockendon levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in North Ockendon.
All being well we will complete the disposal of our £150000 apartment in North Ockendon in just under a week. The landlords agents has quoted £420 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 flat conveyance in North Ockendon?
North Ockendon conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in North Ockendon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a North Ockendon conveyancing firm who can help.
An example of a Lease Extension decision for a North Ockendon residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The the unexpired residue of the current lease was 57.5 years.
What makes a North Ockendon lease unacceptable for security purposes?
Leasehold conveyancing in North Ockendon is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Virgin Money, and TSB all have very detailed 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 problematic they may refuse to provide security, obliging the purchaser to withdraw.