Examples of recent questions relating to leasehold conveyancing in Snaresbrook
Looking forward to complete next month on a ground floor flat in Snaresbrook. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Snaresbrook should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Snaresbrook. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Snaresbrook are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Snaresbrook so you should seriously consider looking for a Snaresbrook conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I own a leasehold flat in Snaresbrook. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Snaresbrook who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Snaresbrook conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of flats in Snaresbrook which have about 50 years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Snaresbrook. The lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
Can you offer any advice when it comes to appointing a Snaresbrook conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Snaresbrook conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Snaresbrook conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then what is the reason?
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Snaresbrook. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Snaresbrook residence is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case related to 2 flats. The the number of years remaining on the existing lease(s) was 73.92 years.