The Hyde leasehold conveyancing Example Support Desk Enquiries
Expecting to complete next month on a ground floor flat in The Hyde. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in The Hyde should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I've recently bought a leasehold property in The Hyde. Am I liable to pay service charges relating to a period prior to 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. However, 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).
Can you offer any advice when it comes to appointing a The Hyde conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a The Hyde conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non The Hyde conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
Completion in due on the disposal of our £125000 apartment in The Hyde on Wednesday in a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in The Hyde?
For most leasehold sales in The Hyde conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange enquiries
- Where consent is required before sale in The Hyde
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have had difficulty in trying to purchase the freehold in The Hyde. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to determine the premium.
An example of a Lease Extension decision for a The Hyde flat is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The the number of years remaining on the existing lease(s) was 71 years.
What makes a The Hyde lease problematic?
There is nothing unique about leasehold conveyancing in The Hyde. Most leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.