Sample questions relating to Anerley leasehold conveyancing
I am hoping to sign contracts shortly on a garden flat in Anerley. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Anerley should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my garden flat in Anerley.Conveyancing is yet to be initiated but I have just received a half-yearly service 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am looking at a two maisonettes in Anerley both have in the region of 50 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 shortens the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
What are your top tips when it comes to choosing a Anerley conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Anerley conveyancing practice) it is most important 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 Anerley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions has the firm carried out in Anerley in the last 12 months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 maisonette in Anerley next Monday . The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Anerley?
Anerley conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Anerley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Anerley flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case related to 1 flat. The remaining number of years on the lease was 26.38 years.