Frequently asked questions relating to West Heath leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in West Heath. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in West Heath - 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.
Due to sign contracts shortly on a ground floor flat in West Heath. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in West Heath should include some of the following:
- Are pets allowed in the flat?
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in West Heath. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in West Heath ?
Most houses in West Heath are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in West Heath in which case you should be looking for a West Heath conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
Last month I purchased a leasehold property in West Heath. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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 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).
Can you provide any advice for leasehold conveyancing in West Heath with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in West Heath can be avoided where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
- Many landlords or managing agents in West Heath levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in West Heath.
I am the leaseholder of a two-bedroom flat in West Heath. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a West Heath conveyancing firm who can help.
An example of a Lease Extension case for a West Heath property 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 related to 13 flats. The remaining number of years on the lease was 76 years.