Frequently asked questions relating to Putney leasehold conveyancing
I am in need of some leasehold conveyancing in Putney. Before I set the wheels in motion 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 most are in Putney - 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 am hoping to sign contracts shortly on a studio apartment in Putney. Conveyancing solicitors have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Putney should include some of the following:
- You should receive a copy of the lease
I have just started marketing my ground floor apartment in Putney.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear 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 unless 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.
What are your top tips when it comes to choosing a Putney conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Putney conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Putney conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How many lease extensions has the firm carried out in Putney in the last 12 months?
Do you have any top tips for leasehold conveyancing in Putney with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Putney can be reduced if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
- The majority landlords or managing agents in Putney charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Putney.
I am the proprietor of a basement flat in Putney. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to calculate the price payable.
An example of a Freehold Enfranchisement case for a Putney premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The the unexpired residue of the current lease was 66.25 years.