Questions and Answers: Perry Barr leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Perry Barr. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Perry Barr - 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.
Having checked my lease I have discovered that there are only 68 years remaining on my flat in Perry Barr. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
If you qualify, 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 enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. On the whole an enquiry agent may be helpful to try and locate and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Perry Barr.
Due to exchange soon on a garden flat in Perry Barr. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Perry Barr should include some of the following:
- The total extent of the property. This will be the flat itself but may incorporate a loft or basement if applicable.
Last month I purchased a leasehold flat in Perry Barr. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Can you provide any advice for leasehold conveyancing in Perry Barr from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Perry Barr can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Perry Barr state that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your solicitor before hand.
Leasehold Conveyancing in Perry Barr - Sample of Queries Prior to buying
The prefered form of lease structure is if the freehold reversion is owned by the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent employed by the leaseholders.
What is the name of the managing agents?
Many Perry Barr leasehold flats will have a service bill for the upkeep of the building invoiced on behalf of the landlord. Should you purchase the flat you will have to meet this charge, usually periodically accross the year. This may be anything from several hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a ground rent to be met yearly, this is usually not a large amount, say about £50-£100 but you should to check as occasionally it could be many hundreds of pounds.