I am in need of some leasehold conveyancing in Waterloo. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Waterloo - 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 Fifty years unexpired on my lease in Waterloo. I need to get lease extension but my freeholder is absent. What options are available to me?

On the basis that 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 or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be helpful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Waterloo.

I own a leasehold house in Waterloo. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Waterloo who acted for me is not around.Any advice?

First contact HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Waterloo conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, 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 Waterloo. Am I liable to pay 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).

I am a negotiator for a reputable estate agent office in Waterloo where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Waterloo conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Waterloo Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

Make sure you enquire if the the lease includes any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Waterloo. If you like the apartmentin Waterloo however your cat can’t live with you then you will be faced hard decision. You will want to discover as much as you can concerning the company managing the building as they will either make your life much easier or a lot more difficult. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the upkeep of the common parts. Enquire of prospective neighbours if they are happy with them. In conclusion, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending the funds. What is the annual service fee and ground rent?

Other Topics

Lease Extensions in Waterloo