Recently asked questions relating to Strawberry Hill leasehold conveyancing
I am on look out for some leasehold conveyancing in Strawberry Hill. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Strawberry Hill - 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Strawberry Hill. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Strawberry Hill ?
The majority of houses in Strawberry Hill 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. We note that you are purchasing in Strawberry Hill in which case you should be shopping around for a Strawberry Hill conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
I've recently bought a leasehold flat in Strawberry Hill. Do I have any liability for service charges for periods before my ownership?
In a situation 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. 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).
I am a negotiator for a busy estate agency in Strawberry Hill where we see a few flat sales derailed due to short leases. I have received conflicting advice from local Strawberry Hill conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
If all goes to plan we aim to complete the disposal of our £250000 garden flat in Strawberry Hill in just under a week. The managing agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Strawberry Hill?
Strawberry Hill conveyancing on leasehold maisonettes usually involves the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to complete the sale of your home.
I am the proprietor of a first flat in Strawberry Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
You certainly can. We can put you in touch with a Strawberry Hill conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Strawberry Hill residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired term was 60.45 years.
Other Topics