Frequently asked questions relating to Nunhead leasehold conveyancing
I am on look out for some leasehold conveyancing in Nunhead. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and almost all are in Nunhead - 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.
I only have 72 years left on my lease in Nunhead. I now want to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the lessor. In some cases a specialist may be useful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Nunhead.
I am attracted to a couple of apartments in Nunhead which have in the region of fifty years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Nunhead. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area
What advice can you give us when it comes to choosing a Nunhead conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Nunhead conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Nunhead 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 many lease extensions has the firm conducted in Nunhead in the last twenty four months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £250000 maisonette in Nunhead next week. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Nunhead?
Nunhead conveyancing on leasehold flats often involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
I have given up trying to purchase the freehold in Nunhead. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Nunhead conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Nunhead flat is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case was in relation to 3 flats. The the unexpired residue of the current lease was 80.01 years.