Examples of recent questions relating to leasehold conveyancing in West Smithfield
Looking forward to complete next month on a studio apartment in West Smithfield. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in West Smithfield should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
Back In 2008, I bought a leasehold house in West Smithfield. Conveyancing and Chelsea Building Society mortgage organised. 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 1995. The conveyancing solicitor in West Smithfield who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a West Smithfield conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two apartments in West Smithfield which have about 50 years remaining on the leases. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in West Smithfield from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in West Smithfield can be bypassed where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
- The majority landlords or Management Companies in West Smithfield levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in West Smithfield.
All being well we will complete our sale of a £450000 maisonette in West Smithfield in 10 days. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in West Smithfield?
For the majority of leasehold sales in West Smithfield conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in West Smithfield
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a West Smithfield conveyancing firm to assist?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.
An example of a Lease Extension case for a West Smithfield flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term was 66.8 years.