Examples of recent questions relating to leasehold conveyancing in Old Ford
I am in need of some leasehold conveyancing in Old Ford. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Old Ford - 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.
Estate agents have just been given the go-ahead to market my garden apartment in Old Ford.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – 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 management companies 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.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Old Ford. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Old Ford are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Old Ford so you should seriously consider looking for a Old Ford conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.
Can you offer any advice when it comes to choosing a Old Ford conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Old Ford conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Old Ford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions have they conducted in Old Ford in the last year?
My wife and I have hit a brick wall in negotiating a lease extension in Old Ford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.
What are the common defects that you witness in leases for Old Ford properties?
There is nothing unique about leasehold conveyancing in Old Ford. All leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.