Leasehold Conveyancing in Surrey Quays - Get a Quote from the leasehold experts approved by your lender

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Surrey Quays leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Surrey Quays. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Surrey Quays - 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 seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Surrey Quays. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Surrey Quays ?

Most houses in Surrey Quays are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Surrey Quays so you should seriously consider looking for a Surrey Quays conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. 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 should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Surrey Quays. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Surrey Quays who acted for me is not around.What should I do?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Surrey Quays conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of maisonettes in Surrey Quays both have approximately 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Surrey Quays. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a busy estate agent office in Surrey Quays where we see a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Surrey Quays conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Surrey Quays. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.

An example of a Freehold Enfranchisement decision for a Surrey Quays residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The the unexpired residue of the current lease was 101.61 years.