Common questions relating to Rainham leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Rainham. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Rainham - 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.
There are only Fifty years unexpired on my lease in Rainham. I need to get lease extension but my landlord is missing. What options are available to me?
On the basis that 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 Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Rainham.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Rainham. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Rainham ?
Most houses in Rainham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Rainham in which case you should be looking for a Rainham conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
Do you have any top tips for leasehold conveyancing in Rainham from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Rainham can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Rainham leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such changes. If you fail to have the paperwork in place you should not contact the landlord without contacting your lawyer in the first instance.
We have reached the end of our tether in trying to purchase the freehold in Rainham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Rainham property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term was 57.5 years.
When it comes to leasehold conveyancing in Rainham what are the most common lease defects?
Leasehold conveyancing in Rainham is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.