Top Five Questions relating to Northwood leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Northwood. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Northwood - then the leasehold title will always include the short particulars 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.
Back In 2002, I bought a leasehold flat in Northwood. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Northwood who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Northwood conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Northwood. Am I liable to pay service charges relating to a period prior to my ownership?
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. A critical element 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).
What advice can you give us when it comes to choosing a Northwood conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Northwood conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Northwood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Northwood. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Northwood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Northwood premises 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 was in relation to 3 flats. The remaining number of years on the lease was 71 years.
What makes a Northwood lease defective?
There is nothing unique about leasehold conveyancing in Northwood. All leases are unique and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.