Recently asked questions relating to Primrose Hill leasehold conveyancing
Expecting to sign contracts shortly on a basement flat in Primrose Hill. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Primrose Hill should include some of the following:
- The total extent of the property. This will be the flat itself but may include a roof space or basement if appropriate.
I own a leasehold flat in Primrose Hill. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Primrose Hill who previously acted has now retired.Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Primrose Hill conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to choosing a Primrose Hill conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Primrose Hill conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Primrose Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Primrose Hill from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Primrose Hill can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
- Many landlords or managing agents in Primrose Hill levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding 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 reason for frustration in leasehold conveyancing in Primrose Hill.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Primrose Hill. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Primrose Hill conveyancing firm who can help.
An example of a Lease Extension case for a Primrose Hill residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 64.77 years.
Are there common problems that you come across in leases for Primrose Hill properties?
There is nothing unique about leasehold conveyancing in Primrose Hill. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.