Common questions relating to South Hornchurch leasehold conveyancing
I am on look out for some leasehold conveyancing in South Hornchurch. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in South Hornchurch - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 72 years left on my lease in South Hornchurch. I am keen to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be useful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering South Hornchurch.
Looking forward to exchange soon on a ground floor flat in South Hornchurch. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in South Hornchurch should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Setting out your rights in relation to the communal areas in the block.For example, does the lease grant a right of way over a path or hallways?
- Whether the lease restricts you from letting out the flat, or having a home office for business
- You must be told what counts as a Nuisance in the lease
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
Back In 2005, I bought a leasehold house in South Hornchurch. Conveyancing and Clydesdale mortgage went though with no issue. 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 1991. The conveyancing practitioner in South Hornchurch who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a South Hornchurch conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in South Hornchurch. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the leaseholder of a second floor flat in South Hornchurch. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
You certainly can. We can put you in touch with a South Hornchurch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a South Hornchurch residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.
I own a split level flat in South Hornchurch, conveyancing was carried out 2005. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in South Hornchurch with an extended lease are worth £208,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2084
With just 58 years remaining on your lease we estimate the premium for your lease extension to span between £22,800 and £26,400 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.