Top Five Questions relating to Woodside leasehold conveyancing
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Woodside. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Woodside are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Woodside so you should seriously consider shopping around for a Woodside conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Woodside. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Woodside who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Woodside conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Woodside. Am I liable to pay service charges for periods before 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. A critical element 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).
I am a negotiator for a reputable estate agency in Woodside where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Woodside conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
All being well we will complete our sale of a £200000 maisonette in Woodside in just under a week. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Woodside?
Woodside conveyancing on leasehold maisonettes typically involves administration charges raised by landlords agents :
- Completing pre-exchange enquiries
- Where consent is required before sale in Woodside
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Woodside conveyancing firm to assist?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Woodside residence is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 69.46 years.