Examples of recent questions relating to leasehold conveyancing in Streatham
I am hoping to exchange soon on a leasehold property in Streatham. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Streatham should include some of the following:
- The total extent of the demise. This will be the property itself but might incorporate a roof space or cellar if applicable.
Estate agents have just been given the go-ahead to market my ground floor apartment in Streatham.Conveyancing has not commenced but I have just received a quarterly service charge demand – Do I pay up?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a leasehold house in Streatham. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Streatham who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Streatham conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to appointing a Streatham conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Streatham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Streatham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Streatham from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Streatham can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
- The majority freeholders or managing agents in Streatham charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Streatham.
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Streatham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Streatham conveyancing firm who can help.
An example of a Lease Extension decision for a Streatham residence is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case affected 1 flat. The the unexpired term as at the valuation date was 23.25 years.