I have just appointed agents to market my ground floor apartment in Barkingside.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Barkingside. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Barkingside ?

The majority of houses in Barkingside are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Barkingside in which case you should be looking for a Barkingside 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 lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold property in Barkingside. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a reputable estate agency in Barkingside where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Barkingside conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Barkingside from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Barkingside can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Barkingside levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Barkingside.

I have had difficulty in seeking a lease extension in Barkingside. Can the Leasehold Valuation Tribunal adjudicate on premiums?

You certainly can. We can put you in touch with a Barkingside conveyancing firm who can help.

An example of a Lease Extension decision for a Barkingside premises is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case related to 1 flat. The the unexpired term as at the valuation date was 60.29 years.

Other Topics

Lease Extensions in Barkingside