Common questions relating to Pimlico leasehold conveyancing
I am on look out for some leasehold conveyancing in Pimlico. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Pimlico - 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 Sixty One years remaining on my lease in Pimlico. I now wish to extend my lease but my landlord is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Pimlico.
Planning to exchange soon on a studio apartment in Pimlico. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Pimlico should include some of the following:
- Are pets allowed in the flat?
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Pimlico. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Pimlico ?
The majority of houses in Pimlico are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Pimlico in which case you should be shopping around for a Pimlico conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
What advice can you give us when it comes to appointing a Pimlico conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Pimlico conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Pimlico conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then why not?
I own a basement flat in Pimlico. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Pimlico conveyancing firm who can help.
An example of a Lease Extension case for a Pimlico flat is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The the unexpired term as at the valuation date was 56 years.