Common questions relating to Wimbledon leasehold conveyancing
I am in need of some leasehold conveyancing in Wimbledon. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Wimbledon - 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 am hoping to complete next month on a studio apartment in Wimbledon. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Wimbledon should include some of the following:
- You should be sent a copy of the lease
Back In 2006, I bought a leasehold house in Wimbledon. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Wimbledon who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Wimbledon conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We expect to complete the sale of our £400000 garden flat in Wimbledon in six days. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Wimbledon?
Wimbledon conveyancing on leasehold apartments nine out of ten times results in fees being raised by managing agents :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Wimbledon
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Wimbledon. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the premium.
An example of a Freehold Enfranchisement decision for a Wimbledon flat is 629 Garratt Lane in September 2014. The consideration payable for the acquisition of the freehold of the subject property was the sum £21,302.74. This represented a valuation of the freehold in the sum of £23,864 from which the sum of £2561.27 has been deducted in respect of certain costs in repairing and insuring the premises This case related to 3 flats. The the unexpired residue of the current lease was 72.94 years.
When it comes to leasehold conveyancing in Wimbledon what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Wimbledon. All leases are unique and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and Britannia all have express 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 grant the mortgage, obliging the buyer to withdraw.
Other Topics