I’m about to sell my 2 bed apartment in Chigwell.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?

It best that you discharge the invoice 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 unless 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 today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Chigwell. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Chigwell are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chigwell in which case you should be looking for a Chigwell conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a two flats in Chigwell both have in the region of forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Chigwell. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Chigwell from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Chigwell can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
• Many landlords or managing agents in Chigwell charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Chigwell.

In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Chigwell leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the approvals in place you should not contact the landlord without checking with your solicitor in advance.

If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming process and frustrates many a Chigwell home move. Where a reissued share is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.

You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete our sale of a £275000 apartment in Chigwell in 10 days. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chigwell?

Chigwell conveyancing on leasehold flats typically involves administration charges levied by management companies :

• Answering pre-contract questions
• Where consent is required before sale in Chigwell
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Chigwell leasehold premises is £350. For Chigwell conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I inherited a a ground floor purpose built flat in Chigwell. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

Absolutely. We can put you in touch with a Chigwell conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Chigwell residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 69.26 years.

Other Topics

Lease Extensions in Chigwell