Examples of recent questions relating to leasehold conveyancing in Riddlesdown
There are only Seventy years remaining on my lease in Riddlesdown. I need to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Riddlesdown.
I am employed by a busy estate agency in Riddlesdown where we have experienced a number of flat sales derailed as a result of short leases. I have received contradictory information from local Riddlesdown conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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.
What are your top tips when it comes to choosing a Riddlesdown conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Riddlesdown conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Riddlesdown conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
- How many lease extensions has the firm conducted in Riddlesdown in the last twenty four months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 350000 garden flat in Riddlesdown in 5 days. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Riddlesdown?
Riddlesdown conveyancing on leasehold maisonettes nine out of ten times involves administration charges invoiced by management companies :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Riddlesdown
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Riddlesdown conveyancing firm to assist?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to judgment on the amount due.
An example of a Freehold Enfranchisement case for a Riddlesdown property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The remaining number of years on the lease was 78.32 years.
What makes a Riddlesdown lease unmortgageable?
There is nothing unique about leasehold conveyancing in Riddlesdown. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Alliance & Leicester all have express conveyancing instructions 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.
Riddlesdown Leasehold Conveyancing - Sample of Queries Prior to buying
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Does the lease have onerous restrictions?
It would be prudent to find out as much as possible about the company managing the building as they will either make living at the property much simpler or a lot more difficult. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. Ask prospective neighbours whether they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes.