Recently asked questions relating to Stanmore leasehold conveyancing
I am on look out for some leasehold conveyancing in Stanmore. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Stanmore - 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.
I only have Fifty years unexpired on my lease in Stanmore. I now wish to extend my lease but my freeholder is missing. What should I do?
On the basis that 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 extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist may be helpful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Stanmore.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Stanmore. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Stanmore are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Stanmore in which case you should be looking for a Stanmore conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
If all goes to plan we aim to complete the sale of our £475000 garden flat in Stanmore next Thursday . The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Stanmore?
For most leasehold sales in Stanmore conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Stanmore
- 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 for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Stanmore conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Stanmore conveyancing firm who can help.
An example of a Lease Extension case for a Stanmore premises is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The the unexpired residue of the current lease was 70.25 years.
When it comes to leasehold conveyancing in Stanmore what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Stanmore. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Virgin Money, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.