Langley leasehold conveyancing Example Support Desk Enquiries
I am hoping to exchange soon on a basement flat in Langley. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Langley should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my garden flat in Langley.Conveyancing has not commenced but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the service charge 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 appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Langley. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Langley are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Langley in which case you should be shopping around for a Langley conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.
We expect to complete the disposal of our £375000 maisonette in Langley next Wednesday . The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Langley?
Langley conveyancing on leasehold flats usually involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Langley conveyancing firm to assist?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price.
An example of a Freehold Enfranchisement decision for a Langley property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The the number of years remaining on the existing lease(s) was 69 years.
Are there frequently found defects that you witness in leases for Langley properties?
Leasehold conveyancing in Langley is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.