Questions and Answers: West Thurrock leasehold conveyancing
I am on look out for some leasehold conveyancing in West Thurrock. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in West Thurrock - 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 Fifty years unexpired on my lease in West Thurrock. I now wish to extend my lease but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist may be helpful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing West Thurrock.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in West Thurrock. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in West Thurrock ?
The majority of houses in West Thurrock are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in West Thurrock in which case you should be looking for a West Thurrock conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
If all goes to plan we aim to complete the sale of our £475000 garden flat in West Thurrock next Thursday . The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in West Thurrock?
West Thurrock conveyancing on leasehold flats often requires the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They are at liberty charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in West Thurrock. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension case for a West Thurrock premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the unexpired residue of the current lease was 76 years.
Are there frequently found defects that you encounter in leases for West Thurrock properties?
There is nothing unique about leasehold conveyancing in West Thurrock. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Virgin Money, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.