Leasehold Conveyancing in Ladbroke Grove - Get a Quote from the leasehold experts approved by your lender

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Examples of recent questions relating to leasehold conveyancing in Ladbroke Grove

Due to sign contracts shortly on a ground floor flat in Ladbroke Grove. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Ladbroke Grove should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Does the lease prevent you from renting out the flat, or working from home
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Ladbroke Grove please ask your solicitor in ahead of your conveyancing in Ladbroke Grove

    • I’m about to sell my basement flat in Ladbroke Grove.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should clear 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 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 am looking at a two apartments in Ladbroke Grove both have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Ladbroke Grove. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

    I am a negotiator for a reputable estate agency in Ladbroke Grove where we see a number of flat sales jeopardised due to short leases. I have received contradictory information from local Ladbroke Grove conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

    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 Ladbroke Grove conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Ladbroke Grove conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Ladbroke Grove conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • How familiar is the practice with lease extension legislation?
  • What are the legal fees for lease extension conveyancing?

    • I inherited a second floor flat in Ladbroke Grove. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    You certainly can. We are happy to put you in touch with a Ladbroke Grove conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Ladbroke Grove flat 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 remaining number of years on the lease was 60 years.

    Other Topics

    Lease Extensions in Ladbroke Grove