Nunhead leasehold conveyancing: Q and A’s
Expecting to complete next month on a studio apartment in Nunhead. Conveyancing lawyers assured 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 Nunhead should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
- Whether your lease has a provision for a reserve fund?
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
I have just started marketing my ground floor flat in Nunhead.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Back In 2004, I bought a leasehold flat in Nunhead. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Nunhead who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Nunhead conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to appointing a Nunhead conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Nunhead conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Nunhead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
- Can they put you in touch with client in Nunhead who can give a testimonial?
All being well we will complete our sale of a £ 300000 apartment in Nunhead in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Nunhead?
Nunhead conveyancing on leasehold maisonettes normally necessitates administration charges levied by landlords agents :
- Answering pre-contract enquiries
- Where consent is required before sale in Nunhead
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a first flat in Nunhead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Nunhead property 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 unexpired term was 80.01 years.
I inherited a 1st floor flat in Nunhead, conveyancing was carried out 2001. How much will my lease extension cost? Similar flats in Nunhead with over 90 years remaining are worth £182,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2093
With just 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.