Examples of recent questions relating to leasehold conveyancing in Parsons Green
I am hoping to complete next month on a basement flat in Parsons Green. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Parsons Green should include some of the following:
- You should be sent a copy of the lease
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Parsons Green. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Parsons Green ?
Most houses in Parsons Green are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Parsons Green in which case you should be shopping around for a Parsons Green conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold house in Parsons Green. Conveyancing and Clydesdale mortgage organised. 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 1998. The conveyancing practitioner in Parsons Green who acted for me is not around.Any advice?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Parsons Green conveyancing lawyer 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 legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two maisonettes in Parsons Green both have in the region of forty five years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Parsons Green. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area
Can you offer any advice when it comes to appointing a Parsons Green conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Parsons Green conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Parsons Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Parsons Green conveyancing firm to assist?
if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the premium.
An example of a Freehold Enfranchisement case for a Parsons Green premises is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The the number of years remaining on the existing lease(s) was 93 years and 162 years.
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