Frequently asked questions relating to North Woolwich leasehold conveyancing
Looking forward to complete next month on a basement flat in North Woolwich. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in North Woolwich should include some of the following:
- You should receive a copy of the lease
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in North Woolwich. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in North Woolwich are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in North Woolwich so you should seriously consider shopping around for a North Woolwich conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
My wife and I purchased a leasehold house in North Woolwich. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in North Woolwich who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a North Woolwich conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to appointing a North Woolwich conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a North Woolwich conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non North Woolwich conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
If all goes to plan we aim to complete our sale of a £275000 flat in North Woolwich in 10 days. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in North Woolwich?
For most leasehold sales in North Woolwich conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in North Woolwich
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a first floor flat in North Woolwich. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a North Woolwich 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 was in relation to 1 flat. The unexpired lease term was 69.77 years.