Examples of recent questions relating to leasehold conveyancing in Angel
I have just started marketing my ground floor apartment in Angel.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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.
Back In 2006, I bought a leasehold house in Angel. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Angel who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Angel conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of flats in Angel both have approximately forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Angel. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
What are your top tips when it comes to finding a Angel conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Angel conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Angel conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How many lease extensions has the firm conducted in Angel in the last year?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £475000 maisonette in Angel in just under a week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Angel?
Angel conveyancing on leasehold maisonettes often necessitates the purchaser’s solicitor submitting enquiries 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 at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to complete the sale of your home.
We have reached the end of our tether in trying to purchase the freehold in Angel. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the premium.
An example of a Freehold Enfranchisement case for a Angel premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired lease term was 98 years.