Colindale leasehold conveyancing: Q and A’s
I have just started marketing my ground floor apartment in Colindale.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold flat in Colindale. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Colindale who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Colindale conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. 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.
Can you offer any advice when it comes to finding a Colindale conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Colindale conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Colindale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions has the firm carried out in Colindale in the last year?
- What are the costs for lease extension work?
Completion in due on the sale of our £ 275000 maisonette in Colindale next Monday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Colindale?
For most leasehold sales in Colindale conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Colindale
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Colindale. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Colindale conveyancing firm who can help.
An example of a Lease Extension case for a Colindale property is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case was in relation to 1 flat. The unexpired term was 70.25 years.
What are the common deficiencies that you encounter in leases for Colindale properties?
Leasehold conveyancing in Colindale is not unique. Most leases are unique and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I purchased a 2 bed flat in Colindale, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Equivalent properties in Colindale with an extended lease are worth £230,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2084
You have 58 years left to run we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.