Common questions relating to Woolwich leasehold conveyancing
I have recently realised that I have Fifty years remaining on my lease in Woolwich. I now want to get lease extension but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. On the whole an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Woolwich.
I own a leasehold flat in Woolwich. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Woolwich who acted for me is not around.What should I do?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Woolwich conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a reputable estate agency in Woolwich where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Woolwich conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
Do you have any advice for leasehold conveyancing in Woolwich with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Woolwich can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
- The majority freeholders or managing agents in Woolwich levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Woolwich.
Completion in due on the sale of our £325000 maisonette in Woolwich next week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Woolwich?
Woolwich conveyancing on leasehold apartments more often than not involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is demanded if you want to sell the property.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Woolwich conveyancing firm to help?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the price.
An example of a Lease Extension decision for a Woolwich residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The remaining number of years on the lease was 69.77 years.