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Top Five Questions relating to Burnt Oak leasehold conveyancing

I have just started marketing my ground floor apartment in Burnt Oak.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you 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 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. This will smooth the conveyancing process.

Back In 2009, I bought a leasehold flat in Burnt Oak. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Burnt Oak who previously acted has long since retired.Any advice?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Burnt Oak conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Burnt Oak which have about forty five years left 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 the lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Burnt Oak. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. However, 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 ensure 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 provide any advice for leasehold conveyancing in Burnt Oak with the purpose of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Burnt Oak can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
  • Many landlords or Management Companies in Burnt Oak levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Burnt Oak.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Burnt Oak state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such alterations. If you fail to have the paperwork to hand do not contact the landlord without checking with your lawyer first.
  • Some Burnt Oak leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a time consuming formality and delays many a Burnt Oak home move. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • I have had difficulty in negotiating a lease extension in Burnt Oak. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to decide the price payable.

    An example of a Lease Extension matter before the tribunal for a Burnt Oak premises is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The unexpired lease term was 71.55 years.

    Other Topics

    Lease Extensions in Burnt Oak