Frequently asked questions relating to Lansbury leasehold conveyancing
Estate agents have just been given the go-ahead to market my 2 bed flat in Lansbury.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – Do I pay up?
It best that you clear 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 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Lansbury. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Lansbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Lansbury in which case you should be shopping around for a Lansbury conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.
Back In 2000, I bought a leasehold flat in Lansbury. Conveyancing and Bank of Ireland mortgage went though with no issue. 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 1996. The conveyancing practitioner in Lansbury who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Lansbury conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Completion in due on the disposal of our £150000 flat in Lansbury in just under a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Lansbury?
Lansbury conveyancing on leasehold apartments normally involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to complete the sale of your home.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Lansbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Lansbury conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold case for a Lansbury flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired term was 80.01 years.
When it comes to leasehold conveyancing in Lansbury what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Lansbury. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- 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
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
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