Questions and Answers: North Woolwich leasehold conveyancing
Due to exchange soon on a studio apartment in North Woolwich. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in North Woolwich should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in North Woolwich. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in North Woolwich ?
The majority of houses in North Woolwich are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in North Woolwich in which case you should be looking for a North Woolwich 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 leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.
I own a leasehold flat in North Woolwich. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in North Woolwich who acted for me is not around.Any advice?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a North Woolwich conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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.
What are your top tips when it comes to appointing a North Woolwich conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a North Woolwich conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non North Woolwich conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 flat in North Woolwich on Friday in a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in North Woolwich?
North Woolwich conveyancing on leasehold apartments more often than not necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
My wife and I have hit a brick wall in trying to purchase the freehold in North Woolwich. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a North Woolwich conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Woolwich property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The the unexpired residue of the current lease was 69.77 years.