Frequently asked questions relating to Surbiton leasehold conveyancing
I am on look out for some leasehold conveyancing in Surbiton. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and most are in Surbiton - 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 reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Surbiton. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Surbiton 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 apparent that you are buying in Surbiton so you should seriously consider shopping around for a Surbiton conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
Back In 2008, I bought a leasehold flat in Surbiton. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Surbiton who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Surbiton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Surbiton. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £500000 flat in Surbiton in just under a week. The management company has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Surbiton?
Surbiton conveyancing on leasehold flats usually necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Surbiton conveyancing firm to represent me?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.
An example of a Lease Extension case for a Surbiton residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.