Frequently asked questions relating to Plumstead leasehold conveyancing
I am in need of some leasehold conveyancing in Plumstead. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Plumstead - 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.
Planning to exchange soon on a studio apartment in Plumstead. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Plumstead should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Plumstead. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Plumstead ?
Most houses in Plumstead are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Plumstead in which case you should be looking for a Plumstead conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
Back In 2009, I bought a leasehold house in Plumstead. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Plumstead who acted for me is not around.Any advice?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Plumstead conveyancing solicitor 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 rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Plumstead from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Plumstead can be reduced where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
- Many freeholders or managing agents in Plumstead charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Plumstead.
I own a two-bedroom flat in Plumstead. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Plumstead conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Plumstead residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.