Top Five Questions relating to Beacontree Heath leasehold conveyancing
I am hoping to sign contracts shortly on a leasehold property in Beacontree Heath. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Beacontree Heath should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Beacontree Heath. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Beacontree Heath ?
Most houses in Beacontree Heath are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Beacontree Heath so you should seriously consider shopping around for a Beacontree Heath conveyancing solicitor and check that they have experience in advising on leasehold houses. First 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 will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
I own a leasehold flat in Beacontree Heath. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Beacontree Heath who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Beacontree Heath conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured 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.
What are your top tips when it comes to finding a Beacontree Heath conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Beacontree Heath conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Beacontree Heath conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 flat in Beacontree Heath on Wednesday in a week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Beacontree Heath?
Beacontree Heath conveyancing on leasehold maisonettes usually requires the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Beacontree Heath conveyancing firm to act on my behalf?
if there is a missing freeholder 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 LVT to assess the sum to be paid.
An example of a Lease Extension decision for a Beacontree Heath 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 affected 1 flat. The remaining number of years on the lease was 61.36 years.
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