I have Fifty Six years remaining on my lease and need a lease extension for my flat in Lewisham. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 27/11/2021 the requirements read as follows :
It has been 4 months since my purchase conveyancing in Lewisham took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a flat up to £305k and identified one near me in Lewisham I like with a park and station nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Lewisham for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Lewisham. I happened to chance upon a web site which seems to have the perfect solution If there is a chance to get all formalities completed via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having had my offer accepted I require leasehold conveyancing in Lewisham. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Lewisham - then the leasehold title will always include the short particulars 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 am the leaseholder of a ground floor flat in Lewisham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the amount due.
An example of a Lease Extension decision for a Lewisham premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired residue of the current lease was 72 years.
At what stage do I cover the costs of stamp duty chargeable for my purchase in Lewisham?
The solicitor will fill out a Land Transaction Return Form on your behalf during your Lewisham purchase transaction for signature. On completion your lawyer will submit your Land Transaction Return Form to the Tax Authorities and - assuming they have the money - pay any land tax liability on your behalf.