Fixed-fee leasehold conveyancing in Pitstone:

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Questions and Answers: Pitstone leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Pitstone. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Pitstone - 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.

I only have Seventy years remaining on my lease in Pitstone. I am keen to extend my lease but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. On the whole an enquiry agent should be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Pitstone.

Back In 2009, I bought a leasehold house in Pitstone. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Pitstone who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Pitstone conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, 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 Pitstone with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Pitstone can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
  • The majority freeholders or managing agents in Pitstone charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Pitstone.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Pitstone leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. Where you dont have the consents in place you should not contact the landlord without contacting your lawyer in the first instance.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Arranging a duplicate share certificate can be a lengthy formality and delays many a Pitstone conveyancing deal. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • What makes a Pitstone lease problematic?

    Leasehold conveyancing in Pitstone is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

    Leasehold Conveyancing in Pitstone - Examples of Questions you should ask Prior to buying

      Is anyone aware of any major works on the horizon that could add a premium to the service fees? This information is helpful as a) areas may cause problems for the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will need to know about it Generally speaking the outlay for major works are not built into the maintenance charges, albeit that some managing agents in Pitstone require tenants to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance.

    Other Topics

    Lease Extensions in Pitstone