Frequently asked questions relating to The Hyde leasehold conveyancing
My wife and I purchased a leasehold house in The Hyde. Conveyancing and TSB mortgage went though with no issue. I have received a letter 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 1991. The conveyancing solicitor in The Hyde who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a The Hyde conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in The Hyde. 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
What advice can you give us when it comes to choosing a The Hyde conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a The Hyde conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non The Hyde conveyancing practices prior to instructing a firm. Where the conveyancing practice 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?
- Can they put you in touch with client in The Hyde who can give a testimonial?
If all goes to plan we aim to complete the sale of our £ 375000 garden flat in The Hyde next Thursday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in The Hyde?
For most leasehold sales in The Hyde conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in The Hyde
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in The Hyde. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a The Hyde conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a The Hyde premises 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 affected 1 flat. The remaining number of years on the lease was 71 years.
Are there frequently found problems that you see in leases for The Hyde properties?
There is nothing unique about leasehold conveyancing in The Hyde. Most leases are individual and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- 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
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
The Hyde Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Are any of leasehold owners in arrears of their service charge liability?