Recently asked questions relating to Canvey Island leasehold conveyancing
I am in need of some leasehold conveyancing in Canvey Island. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Canvey Island - 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 have just started marketing my basement flat in Canvey Island.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've recently bought a leasehold flat in Canvey Island. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to finding a Canvey Island conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Canvey Island conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Canvey Island conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions has the firm completed in Canvey Island in the last year?
- What are the legal fees for lease extension work?
If all goes to plan we aim to complete our sale of a £ 500000 maisonette in Canvey Island on Wednesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Canvey Island?
Canvey Island conveyancing on leasehold apartments normally involves fees being invoiced by management companies :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Canvey Island
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Canvey Island Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
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How much is the maintenance charge and ground rent on the property?
Where a Canvey Island lease has fewer than eighty years it will affect the value of the apartment. It is worth checking with your bank that they are content with the length of the lease. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. Remember, in most cases you would be be obliged to have owned the premises for two years before you are entitled to exercise a lease extension.