Examples of recent questions relating to leasehold conveyancing in St Mary Cray
I am in need of some leasehold conveyancing in St Mary Cray. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in St Mary Cray - 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've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in St Mary Cray. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in St Mary Cray are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in St Mary Cray in which case you should be shopping around for a St Mary Cray conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
My wife and I purchased a leasehold flat in St Mary Cray. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in St Mary Cray who previously acted has long since retired.Any advice?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a St Mary Cray conveyancing solicitor 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.
I am looking at a two apartments in St Mary Cray which have approximately fifty years left on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area
Can you offer any advice when it comes to finding a St Mary Cray conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a St Mary Cray conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non St Mary Cray conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions have they carried out in St Mary Cray in the last 12 months?
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in St Mary Cray. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee landlord or if there is dispute 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 assess the price.
An example of a Lease Extension matter before the tribunal for a St Mary Cray flat 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 related to 1 flat. The the unexpired residue of the current lease was 50.57 years.