Recently asked questions relating to South Woodford leasehold conveyancing
I've found a house that seems to be perfect, at a reasonable figure 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 buying a house with a leasehold title in South Woodford. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in South Woodford are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in South Woodford so you should seriously consider looking for a South Woodford conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.
Back In 2001, I bought a leasehold house in South Woodford. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in South Woodford who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual purporting 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 Woodford conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in South Woodford. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).
What advice can you give us when it comes to choosing a South Woodford conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a South Woodford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non South Woodford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in South Woodford with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in South Woodford can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
- Many landlords or managing agents in South Woodford charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in South Woodford.
We have reached the end of our tether in trying to purchase the freehold in South Woodford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Lease Extension decision for a South Woodford property is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case was in relation to 1 flat. The unexpired term was 71.2 years.