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

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Aldwych, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Aldwych leasehold conveyancing

Due to sign contracts shortly on a ground floor flat in Aldwych. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Aldwych should include some of the following:

  • Defining your rights in relation to the communal areas in the building.E.G., does the lease include a right of way over a path or hallways?
  • You need to be told what constitutes a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Aldwych please enquire of your conveyancer in ahead of your conveyancing in Aldwych

  • I’m about to sell my ground floor apartment in Aldwych.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – 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 managing agents 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 am looking at a couple of maisonettes in Aldwych both have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

    Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 flat in Aldwych next week. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Aldwych?

    Aldwych conveyancing on leasehold apartments usually necessitates administration charges raised by management companies :

    • Answering pre-exchange questions
    • Where consent is required before sale in Aldwych
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Aldwych leasehold property is £350. For Aldwych conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

    I am the registered owner of a garden flat in Aldwych. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

    in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the price payable.

    An example of a Freehold Enfranchisement decision for a Aldwych premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The remaining number of years on the lease was 73.26 years.

    What makes a Aldwych lease defective?

    Leasehold conveyancing in Aldwych is not unique. Most leases are individual and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair 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.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could 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. Barclays , Barnsley Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.