Experts for Leasehold Conveyancing in Chalk Farm

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Recently asked questions relating to Chalk Farm leasehold conveyancing

Having checked my lease I have discovered that there are only Fifty years left on my lease in Chalk Farm. I now want to extend my lease but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Chalk Farm.

I am hoping to complete next month on a studio apartment in Chalk Farm. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Chalk Farm should include some of the following:

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are pets allowed in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Chalk Farm please ask your lawyer in ahead of your conveyancing in Chalk Farm

    • I have just appointed agents to market my ground floor apartment in Chalk Farm.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?

    It best that you discharge 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.

    I've recently bought a leasehold house in Chalk Farm. Do I have any liability for 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. 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).

    Do you have any top tips for leasehold conveyancing in Chalk Farm from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chalk Farm can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
    • The majority freeholders or Management Companies in Chalk Farm levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Chalk Farm.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Chalk Farm leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. Should you fail to have the consents to hand you should not communicate with the landlord without contacting your conveyancer in advance.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming formality and frustrates many a Chalk Farm conveyancing transaction. If a reissued share certificate is required, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chalk Farm. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a absentee freeholder or where 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 Chalk Farm property is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The unexpired term was 64.77 years.

    Other Topics

    Lease Extensions in Chalk Farm