Questions and Answers: Shooter's Hill leasehold conveyancing
I am hoping to exchange soon on a leasehold property in Shooter's Hill. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Shooter's Hill should include some of the following:
- Are pets allowed in the flat?
- Does the lease prevent you from renting out the property, or working from home
- You must be told what constitutes a Nuisance in the lease
- Repair and maintenance of the flat
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- What the implications are if you breach a clause of your lease?
Estate agents have just been given the go-ahead to market my garden flat in Shooter's Hill.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?
It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Shooter's Hill. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Shooter's Hill ?
Most houses in Shooter's Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Shooter's Hill so you should seriously consider shopping around for a Shooter's Hill conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a leasehold house in Shooter's Hill. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Shooter's Hill who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Shooter's Hill conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Shooter's Hill conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Shooter's Hill conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Shooter's Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions have they conducted in Shooter's Hill in the last year?
- Can they put you in touch with client in Shooter's Hill who can give a testimonial?
We have reached the end of our tether in trying to purchase the freehold in Shooter's Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Lease Extension decision for a Shooter's Hill residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.
I own a leasehold flat in Shooter's Hill, conveyancing having been completed 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Shooter's Hill with a long lease are worth £217,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2090
With just 64 years remaining on your lease we estimate the price of your lease extension to be between £15,200 and £17,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.