Examples of recent questions relating to leasehold conveyancing in Wallington
There are only 72 years left on my flat in Wallington. I now want to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist would be helpful to carry out a search and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Wallington.
I am attracted to a two maisonettes in Wallington which have about 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Wallington. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold flat in Wallington. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. Strange as it may seem, 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).
What advice can you give us when it comes to finding a Wallington conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Wallington conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Wallington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Wallington from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Wallington can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
- Many freeholders or managing agents in Wallington charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Wallington.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Wallington conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Wallington conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wallington residence is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The unexpired term was 72 years.