Examples of recent questions relating to leasehold conveyancing in Riddlesdown
Having had my offer accepted I require leasehold conveyancing in Riddlesdown. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Riddlesdown - 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.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Riddlesdown. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Riddlesdown are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Riddlesdown so you should seriously consider shopping around for a Riddlesdown conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.
I am employed by a busy estate agency in Riddlesdown where we have experienced a few leasehold sales jeopardised as a result of short leases. I have been given contradictory information from local Riddlesdown conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you provide any top tips for leasehold conveyancing in Riddlesdown from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Riddlesdown can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
- Many landlords or managing agents in Riddlesdown charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Riddlesdown.
Completion in due on the disposal of our £225000 apartment in Riddlesdown in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Riddlesdown?
For most leasehold sales in Riddlesdown conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Riddlesdown
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Riddlesdown. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Riddlesdown premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The the number of years remaining on the existing lease(s) was 78.32 years.