Examples of recent questions relating to leasehold conveyancing in West Norwood
Having had my offer accepted I require leasehold conveyancing in West Norwood. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in West Norwood - then the leasehold title will always include the short particulars 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 only have Fifty years unexpired on my lease in West Norwood. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. On the whole an enquiry agent would be useful to try and locate and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering West Norwood.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in West Norwood. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in West Norwood ?
Most houses in West Norwood are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in West Norwood so you should seriously consider looking for a West Norwood conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.
Last month I purchased a leasehold house in West Norwood. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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 appointing a West Norwood conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a West Norwood conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non West Norwood 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 useful:
- How experienced is the firm with lease extension legislation?
- Can they put you in touch with client in West Norwood who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a West Norwood conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a West Norwood conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Norwood premises is 172 Knollys Road in February 2012. On 13 September 2011 District Judge Guinan made a vesting order and the proceedings were transferred to the tribunal for the purpose of assessing the premium which was subsequently calculated to be £24,003 This case was in relation to 4 flats. The the unexpired term as at the valuation date was 98.28 for 3 flats other than the garden flat which had 66.04 years remaining.
I am the registered owner of a ground floor flat in West Norwood, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in West Norwood with a long lease are worth £225,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2092
With only 66 years remaining on your lease we estimate the premium for your lease extension to be between £15,200 and £17,600 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.