Sample questions relating to Shepherd's Bush leasehold conveyancing
I am hoping to complete next month on a basement flat in Shepherd's Bush. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Shepherd's Bush should include some of the following:
- You should be sent a copy of the lease
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Shepherd's Bush. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Shepherd's Bush ?
Most houses in Shepherd's Bush are freehold and not 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 Shepherd's Bush so you should seriously consider looking for a Shepherd's Bush conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2002, I bought a leasehold house in Shepherd's Bush. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Shepherd's Bush who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Shepherd's Bush conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Shepherd's Bush both have in the region of 50 years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Shepherd's Bush. The lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
What are your top tips when it comes to choosing a Shepherd's Bush conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Shepherd's Bush conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Shepherd's Bush conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Shepherd's Bush conveyancing firm to assist?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Shepherd's Bush premises is 82 Minford Gardens in February 2009. The Tribunal determined that the enfranchisement price was £37,341 This case was in relation to 2 flats. The unexpired term was 72.92 years.