Recently asked questions relating to West Beckton leasehold conveyancing
There are only 68 years remaining on my lease in West Beckton. I need to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, 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 done all that could be expected to track down the freeholder. In some cases an enquiry agent should be helpful to carry out a search and prepare a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering West Beckton.
I am hoping to exchange soon on a leasehold property in West Beckton. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in West Beckton should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am attracted to a two maisonettes in West Beckton which have in the region of fifty years remaining on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold property in West Beckton. Do I have any liability for service charges for periods before my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £175000 apartment in West Beckton in just under a week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in West Beckton?
West Beckton conveyancing on leasehold maisonettes normally involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to sell the property.
I am the leaseholder of a a ground floor purpose built flat in West Beckton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the sum to be paid.
An example of a Lease Extension decision for a West Beckton residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The remaining number of years on the lease was 69.77 years.
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