Frequently asked questions relating to North Ockendon leasehold conveyancing
I am on look out for some leasehold conveyancing in North Ockendon. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in North Ockendon - 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.
Having checked my lease I have discovered that there are only 68 years remaining on my lease in North Ockendon. I am keen to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole a specialist should be helpful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing North Ockendon.
Looking forward to complete next month on a garden flat in North Ockendon. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in North Ockendon should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in North Ockendon. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in North Ockendon ?
Most houses in North Ockendon are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in North Ockendon so you should seriously consider shopping around for a North Ockendon conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.
What are your top tips when it comes to appointing a North Ockendon conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a North Ockendon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non North Ockendon conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in North Ockendon. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price payable.
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 affected 1 flat. The unexpired lease term was 57.5 years.