Top Five Questions relating to Northwood leasehold conveyancing
I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Northwood. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Northwood ?
The majority of houses in Northwood are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Northwood so you should seriously consider shopping around for a Northwood conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.
I own a leasehold flat in Northwood. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Northwood who previously acted has long since retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Northwood conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Northwood conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Northwood conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Northwood conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- Can they put you in touch with client in Northwood who can give a testimonial?
Do you have any advice for leasehold conveyancing in Northwood from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Northwood can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Northwood state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the approvals to hand do not contact the landlord without checking with your solicitor in advance.
Completion in due on the disposal of our £250000 maisonette in Northwood in just under a week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Northwood?
Northwood conveyancing on leasehold flats typically involves administration charges invoiced by managing agents :
- Answering pre-exchange enquiries
- Where consent is required before sale in Northwood
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have had difficulty in trying to purchase the freehold in Northwood. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or where there is disagreement 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 determine the premium.
An example of a Lease Extension matter before the tribunal for a Northwood property is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The unexpired term was 71 years.