Fixed-fee leasehold conveyancing in Ladbroke Grove:

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Ladbroke Grove leasehold conveyancing: Q and A’s

I’m about to sell my ground floor apartment in Ladbroke Grove.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

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 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 found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Ladbroke Grove. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Ladbroke Grove ?

The majority of houses in Ladbroke Grove are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Ladbroke Grove in which case you should be shopping around for a Ladbroke Grove conveyancing solicitor and check that they have experience in dealing with leasehold houses. First 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 will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Ladbroke Grove where we see a few flat sales jeopardised due to short leases. I have received conflicting advice from local Ladbroke Grove conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities 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 can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

What advice can you give us when it comes to finding a Ladbroke Grove conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Ladbroke Grove conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Ladbroke Grove conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • Can they put you in touch with client in Ladbroke Grove who can give a testimonial?
  • What are the costs for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Ladbroke Grove with the purpose of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Ladbroke Grove can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Ladbroke Grove charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Ladbroke Grove.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Ladbroke Grove leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer in advance.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to 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 better to reveal the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore important 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 property on the market for sale.

    • I inherited a first flat in Ladbroke Grove. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.

    An example of a Lease Extension case for a Ladbroke Grove premises is Flat 1 57 Oxford Gardens in January 2014. the Tribunal decided that the premium to be paidfor a new lease is £61,650.00. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 60 years.

    Other Topics

    Lease Extensions in Ladbroke Grove