Frequently asked questions relating to Plaistow leasehold conveyancing
I am on look out for some leasehold conveyancing in Plaistow. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Plaistow - 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.
Looking forward to complete next month on a leasehold property in Plaistow. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Plaistow should include some of the following:
- Setting out your rights in respect of common areas in the building.For instance, does the lease grant a right of way over an accessway or hallways?
- You should have a good understanding of the insurance provisions
- 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
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- 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 options are open to you if a neighbour breach a clause of their lease?
- What the implications are if you breach a clause of your lease?
Estate agents have just been given the go-ahead to market my basement apartment in Plaistow.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Plaistow. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Plaistow ?
Most houses in Plaistow are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Plaistow so you should seriously consider shopping around for a Plaistow conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. 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 report to you on the legal implications.
I own a leasehold house in Plaistow. Conveyancing and Halifax mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Plaistow who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Plaistow conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. 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.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Plaistow. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Freehold Enfranchisement case for a Plaistow flat is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
Plaistow Leasehold Conveyancing - A selection of Questions you should ask before buying
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If a Plaistow lease has less than 80 years it will affect the marketability of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth finding out what this will be. Remember, in most cases you would need to own the premises for 24 months in order to be entitled to extend the lease.
Best to be warned whether fixing the lift or some other major work is pending to be shared between the leaseholders and may well materially impact the level of the service charges or result in a one time invoice.