Experts for Leasehold Conveyancing in Fairlop

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Fairlop leasehold conveyancing Example Support Desk Enquiries

Estate agents have just been given the go-ahead to market my 2 bed flat in Fairlop.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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.

Back In 2007, I bought a leasehold flat in Fairlop. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Fairlop who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Fairlop conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold house in Fairlop. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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).

Can you offer any advice when it comes to finding a Fairlop conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Fairlop conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Fairlop conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm carried out in Fairlop in the last twenty four months?

    • Can you provide any top tips for leasehold conveyancing in Fairlop from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Fairlop can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • The majority landlords or managing agents in Fairlop levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding 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 cause of frustration in leasehold conveyancing in Fairlop.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Fairlop leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the paperwork in place do not communicate with the landlord without contacting your lawyer first.
  • A minority of Fairlop leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.

    • We have reached the end of our tether in seeking a lease extension in Fairlop. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Absolutely. We are happy to put you in touch with a Fairlop conveyancing firm who can help.

    An example of a Lease Extension decision for a Fairlop property is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case affected 1 flat. The unexpired term was 60.29 years.

    Other Topics

    Lease Extensions in Fairlop