Questions and Answers: Southfields leasehold conveyancing
I am in need of some leasehold conveyancing in Southfields. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Southfields - 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 62 years remaining on my flat in Southfields. I am keen to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, 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 enable the lease to be lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist should be helpful to carry out a search and to produce an expert document to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Southfields.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Southfields. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Southfields ?
Most houses in Southfields are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Southfields so you should seriously consider looking for a Southfields conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I am attracted to a two apartments in Southfields which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena
If all goes to plan we aim to complete the sale of our £150000 apartment in Southfields next week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Southfields?
Southfields conveyancing on leasehold maisonettes typically results in fees being levied by management companies :
- Addressing pre-exchange questions
- Where consent is required before sale in Southfields
- 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 tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Southfields conveyancing firm to act on my behalf?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the price payable.
An example of a Lease Extension decision for a Southfields premises is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case related to 1 flat. The the unexpired residue of the current lease was 69.32 years.