Sample questions relating to South Hackney leasehold conveyancing
I only have 68 years left on my lease in South Hackney. I need to get lease extension but my freeholder is missing. What should I do?
If 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 magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. On the whole an enquiry agent would be useful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing South Hackney.
Expecting to exchange soon on a ground floor flat in South Hackney. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in South Hackney should include some of the following:
- Defining your rights in relation to the communal areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
I have just appointed agents to market my garden flat in South Hackney.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
We expect to complete our sale of a £350000 flat in South Hackney next week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in South Hackney?
South Hackney conveyancing on leasehold flats normally necessitates administration charges invoiced by managing agents :
- Addressing pre-contract questions
- Where consent is required before sale in South Hackney
- Copies of the building insurance and schedule
- 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 success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a South Hackney conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a South Hackney conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a South Hackney flat is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case related to 4 flats. The the unexpired term as at the valuation date was 90 (or thereabouts).
What are the frequently found problems that you see in leases for South Hackney properties?
Leasehold conveyancing in South Hackney is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.