Fixed-fee leasehold conveyancing in Bowes Park:

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Sample questions relating to Bowes Park leasehold conveyancing

Due to exchange soon on a basement flat in Bowes Park. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Setting out your rights in respect of common areas in the building.By way of example, does the lease contain a right of way over an accessway or staircase?
  • Are you allowed to have a pet in the flat?
  • Whether the lease restricts you from renting out the property, or working from home
  • Whether your lease has a provision for a sinking fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Bowes Park please enquire of your conveyancer in ahead of your conveyancing in Bowes Park

    • I am looking at a two flats in Bowes Park which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Bowes Park. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

    I've recently bought a leasehold property in Bowes Park. Do I have any liability for service charges for periods before 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. It is an essential part 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).

    Can you offer any advice when it comes to finding a Bowes Park conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Bowes Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Bowes Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

    • How familiar is the firm with lease extension legislation?
  • What are the charges for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Bowes Park with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Bowes Park can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • The majority landlords or Management Companies in Bowes Park charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bowes Park.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Bowes Park leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Where you dont have the paperwork to hand do not contact the landlord without contacting your conveyancer in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Arranging a new share certificate can be a time consuming formality and slows down many a Bowes Park home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Bowes Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We are happy to put you in touch with a Bowes Park conveyancing firm who can help.

    An example of a Lease Extension decision for a Bowes Park residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the unexpired residue of the current lease was 81.79 years.

    Other Topics

    Lease Extensions in Bowes Park