Frequently asked questions relating to Rotherhithe leasehold conveyancing
There are only 68 years unexpired on my flat in Rotherhithe. I need to extend my lease but my landlord is missing. What should I do?
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 mean that your lease can be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent would be helpful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Rotherhithe.
Expecting to complete next month on a leasehold property in Rotherhithe. 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 Rotherhithe should include some of the following:
- Defining your legal entitlements in relation to the communal areas in the block.For example, does the lease grant a right of way over an accessway or hallways?
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Rotherhithe. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Rotherhithe ?
The majority of houses in Rotherhithe are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Rotherhithe in which case you should be shopping around for a Rotherhithe conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.
I am looking at a couple of flats in Rotherhithe both have about fifty years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Rotherhithe. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area
Do you have any advice for leasehold conveyancing in Rotherhithe from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Rotherhithe can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
- Many freeholders or managing agents in Rotherhithe charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Rotherhithe.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Rotherhithe conveyancing firm to help?
if there is a absentee landlord 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 First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Freehold Enfranchisement case for a Rotherhithe flat is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term was 101.61 years.