Guaranteed fixed fees for Leasehold Conveyancing in Chadwell Heath

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Questions and Answers: Chadwell Heath leasehold conveyancing

I’m about to sell my 2 bed apartment in Chadwell Heath.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is 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 figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Chadwell Heath. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Chadwell Heath ?

Most houses in Chadwell Heath are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chadwell Heath so you should seriously consider looking for a Chadwell Heath conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

What are your top tips when it comes to appointing a Chadwell Heath conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Chadwell Heath conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Chadwell Heath conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Chadwell Heath who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Chadwell Heath from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Chadwell Heath can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Chadwell Heath levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to 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 receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Chadwell Heath.
  • A minority of Chadwell Heath leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate is often a time consuming formality and delays many a Chadwell Heath conveyancing transaction. Where a reissued share is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 maisonette in Chadwell Heath next Monday . The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Chadwell Heath?

    Chadwell Heath conveyancing on leasehold maisonettes often necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to sell the property.

    I have had difficulty in trying to purchase the freehold in Chadwell Heath. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to determine the premium.

    An example of a Lease Extension decision for a Chadwell Heath premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the unexpired residue of the current lease was 61.36 years.

    Other Topics

    Lease Extensions in Chadwell Heath