Fixed-fee leasehold conveyancing in Moor Park:

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Questions and Answers: Moor Park leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Moor Park. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Moor Park - 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.

My fiance and I may need to sub-let our Moor Park basement flat for a while due to a new job. We used a Moor Park conveyancing firm in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Moor Park conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my 2 bed flat in Moor Park.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – what should I do?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold house in Moor Park. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Moor Park who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Moor Park conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured 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.

Do you have any advice for leasehold conveyancing in Moor Park with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Moor Park can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
  • Many freeholders or managing agents in Moor Park levy fees 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 as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Moor Park.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Arranging a re-issued share certificate is often a lengthy process and frustrates many a Moor Park conveyancing transaction. If a new share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have had difficulty in negotiating a lease extension in Moor Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    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 assess the premium.

    An example of a Lease Extension case for a Moor Park residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The unexpired term was 71 years.

    Other Topics

    Lease Extensions in Moor Park