Recently asked questions relating to Burnt Oak leasehold conveyancing
Planning to sign contracts shortly on a studio apartment in Burnt Oak. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Burnt Oak should include some of the following:
- You should be sent a copy of the lease
Estate agents have just been given the go-ahead to market my ground floor flat in Burnt Oak.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is 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 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. This will smooth the conveyancing process.
I own a leasehold flat in Burnt Oak. Conveyancing and Godiva Mortgages Ltd 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 1993. The conveyancing practitioner in Burnt Oak who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Burnt Oak conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Burnt Oak with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Burnt Oak can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- The majority landlords or managing agents in Burnt Oak levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Burnt Oak.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £225000 maisonette in Burnt Oak next Monday . The management company has quoted £408 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Burnt Oak?
Burnt Oak conveyancing on leasehold flats often requires the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
My wife and I have hit a brick wall in seeking a lease extension in Burnt Oak. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Lease Extension case 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 affected 1 flat. The the unexpired residue of the current lease was 71.55 years.