Frequently asked questions relating to Loughton leasehold conveyancing
Due to complete next month on a basement flat in Loughton. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Loughton should include some of the following:
- You should be sent a copy of the lease
Back In 2007, I bought a leasehold flat in Loughton. Conveyancing and Halifax mortgage organised. 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 practitioner in Loughton who previously acted has long since retired.What should I do?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Loughton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Loughton. Do I have any liability for service charges for periods before my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
What advice can you give us when it comes to choosing a Loughton conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Loughton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Loughton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
Do you have any advice for leasehold conveyancing in Loughton from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Loughton can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
- The majority landlords or Management Companies in Loughton charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Loughton.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Loughton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Loughton property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 69.26 years.