Experts for Leasehold Conveyancing in Woodside Park

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Frequently asked questions relating to Woodside Park leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Woodside Park. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Woodside Park - 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 garden flat in Woodside Park. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Woodside Park should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the flat itself but could also include a roof space or basement if applicable.
  • Setting out your rights in relation to common areas in the building.For instance, does the lease include a right of way over an accessway or staircase?
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Woodside Park please ask your conveyancer in ahead of your conveyancing in Woodside Park

    • Back In 2002, I bought a leasehold house in Woodside Park. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Woodside Park who previously acted has long since retired.Any advice?

    First contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Woodside Park conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Do you have any top tips for leasehold conveyancing in Woodside Park with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Woodside Park can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • The majority freeholders or Management Companies in Woodside Park charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Woodside Park.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Woodside Park leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you dont have the consents to hand do not contact the landlord without checking with your conveyancer in advance.
  • A minority of Woodside Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you hold the original share document. Arranging a replacement share certificate can be a lengthy process and delays many a Woodside Park home move. If a new share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

    • After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Woodside Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the price payable.

    An example of a Lease Extension decision for a Woodside Park premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the unexpired term as at the valuation date was 76 years.

    What makes a Woodside Park lease unacceptable for security purposes?

    Leasehold conveyancing in Woodside Park is not unique. Most leases are unique and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.