Recently asked questions relating to Clapton leasehold conveyancing
I have just started marketing my 2 bed apartment in Clapton.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Clapton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Clapton are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Clapton in which case you should be shopping around for a Clapton conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.
I am looking at a couple of flats in Clapton both have about 50 years remaining on the leases. Will this present a problem?
A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area
Can you provide any top tips for leasehold conveyancing in Clapton with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Clapton can be reduced where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- Many landlords or managing agents in Clapton levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Clapton.
We expect to complete the sale of our £275000 maisonette in Clapton next Thursday . The freeholder has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Clapton?
For most leasehold sales in Clapton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Clapton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Clapton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Clapton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Clapton premises is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The the unexpired term as at the valuation date was 71.25 years.