Examples of recent questions relating to leasehold conveyancing in Peckham
I am in need of some leasehold conveyancing in Peckham. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Peckham - 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 basement apartment in Peckham.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – what should I do?
It best that you clear 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2009, I bought a leasehold house in Peckham. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Peckham who previously acted has long since retired.What should I do?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Peckham conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agency in Peckham where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Peckham conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What advice can you give us when it comes to choosing a Peckham conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Peckham conveyancing firm) it is essential 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 Peckham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- What volume of lease extensions has the firm conducted in Peckham in the last 12 months?
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Peckham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Freehold Enfranchisement decision for a Peckham residence is 31 Kings Grove in January 2012. By a claim form issued on 11" August 2011 under action number 1LB01618 in the Lambeth County Court the applicant tenants sought dispensation under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 from the requirement to serve a notice under section 13 of that Act in order to purchase the freehold of the premises. The Tribunal decided the amount payable for the freehold as £10,728 This case related to 2 flats. The the unexpired residue of the current lease was 80.5 years.