Questions and Answers: Fleet leasehold conveyancing
My wife and I purchased a leasehold house in Fleet. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Fleet who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Fleet conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a busy estate agent office in Fleet where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Fleet conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to appointing a Fleet conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Fleet conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Fleet conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Fleet from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Fleet can be bypassed where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
- The majority freeholders or Management Companies in Fleet charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for 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 frequent reason for delay in leasehold conveyancing in Fleet.
Completion in due on the disposal of our £125000 garden flat in Fleet next week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Fleet?
Fleet conveyancing on leasehold apartments normally necessitates fees being invoiced by management companies :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Fleet
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Fleet Leasehold Conveyancing - Sample of Queries before buying
-
Best to be warned whether redecorating or some other major work is anticipated to be shared amongst the leaseholders and will materially impact the level of the maintenance charges or require a one off invoice.
The answer will be useful as a) areas can cause problems in the building as the common areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have a dispute with the managing agents you will wish to know about it
Many Fleet leasehold apartments will incur a service charge for the upkeep of the building invoiced by the landlord. Where you buy the apartment you will have to pay this charge, normally quarterly during the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say around £25-£75 but you should to check as occasionally it can be surprisingly expensive.
Other Topics