Southborough leasehold conveyancing: Q and A’s
There are only Fifty years unexpired on my lease in Southborough. I now want to get lease extension but my landlord is absent. 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the freeholder. For most situations a specialist would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Southborough.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Southborough. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Southborough are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Southborough so you should seriously consider shopping around for a Southborough conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.
I've recently bought a leasehold flat in Southborough. Am I liable to pay service charges relating to a period prior to 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).
Completion in due on our sale of a £275000 maisonette in Southborough in 8 days. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Southborough?
For most leasehold sales in Southborough conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange questions
- Where consent is required before sale in Southborough
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Southborough. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Southborough conveyancing firm who can help.
An example of a Lease Extension case for a Southborough premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired lease term was 50.57 years.
What are the frequently found deficiencies that you witness in leases for Southborough properties?
Leasehold conveyancing in Southborough is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. 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.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.