Top Five Questions relating to South Tottenham leasehold conveyancing
I am in need of some leasehold conveyancing in South Tottenham. 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 99.9% are in South Tottenham - then the leasehold title will always include the basic details 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.
Expecting to complete next month on a studio apartment in South Tottenham. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in South Tottenham should include some of the following:
- The total extent of the demise. This will be the flat itself but may incorporate a roof space or cellar if appropriate.
I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in South Tottenham. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in South Tottenham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in South Tottenham in which case you should be shopping around for a South Tottenham conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
My wife and I purchased a leasehold flat in South Tottenham. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in South Tottenham who previously acted has now retired.What should I do?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a South Tottenham conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a South Tottenham conveyancing firm to assist?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the sum to be paid.
An example of a Freehold Enfranchisement decision for a South Tottenham property is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case affected 2 flats. The the unexpired residue of the current lease was 74.13 years.
What makes a South Tottenham lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in South Tottenham. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.