Vauxhall leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Vauxhall. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Vauxhall - 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.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Vauxhall. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Vauxhall ?
Most houses in Vauxhall are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Vauxhall so you should seriously consider looking for a Vauxhall conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.
Back In 2005, I bought a leasehold flat in Vauxhall. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Vauxhall who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Vauxhall conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Vauxhall conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Vauxhall conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Vauxhall conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions have they completed in Vauxhall in the last twenty four months?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Vauxhall conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Vauxhall conveyancing firm who can help.
An example of a Lease Extension decision for a Vauxhall residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The the unexpired residue of the current lease was 56 years.
What makes a Vauxhall lease problematic?
Leasehold conveyancing in Vauxhall is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.