Frequently asked questions relating to Thamesmead leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Thamesmead. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Thamesmead - 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.
Harry (my fiance) and I may need to let out our Thamesmead ground floor flat temporarily due to a new job. We instructed a Thamesmead conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Thamesmead do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Thamesmead. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Thamesmead are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Thamesmead so you should seriously consider looking for a Thamesmead conveyancing practitioner and check 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 with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
I own a leasehold house in Thamesmead. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Thamesmead who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Thamesmead 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 legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Thamesmead conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Thamesmead conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Thamesmead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- If they are not ALEP accredited then what is the reason?
- Can they put you in touch with client in Thamesmead who can give a testimonial?
I have given up trying to reach an agreement for a lease extension in Thamesmead. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Thamesmead conveyancing firm who can help.
An example of a Lease Extension case for a Thamesmead flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.
I bought a 2 bed flat in Thamesmead, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Thamesmead with a long lease are worth £199,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2096
You have 70 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.