Common questions relating to Thames View leasehold conveyancing
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Thames View. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Thames View are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Thames View in which case you should be shopping around for a Thames View conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I own a leasehold house in Thames View. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Thames View who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Thames View conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, 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 Thames View with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Thames View can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Thames View state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the consents in place you should not contact the landlord without checking with your lawyer first.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 flat in Thames View next week. The managing agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Thames View?
Thames View conveyancing on leasehold apartments typically results in administration charges levied by managing agents :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Thames View
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have given up negotiating a lease extension in Thames View. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Thames View conveyancing firm who can help.
An example of a Lease Extension case for a Thames View property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The the unexpired residue of the current lease was 61.36 years.
Are there common defects that you witness in leases for Thames View properties?
Leasehold conveyancing in Thames View is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.