Estate agents have just been given the go-ahead to market my basement flat in Collier Row.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Collier Row. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Collier Row ?

The majority of houses in Collier Row are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Collier Row so you should seriously consider shopping around for a Collier Row conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold house in Collier Row. Conveyancing and Yorkshire Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Collier Row who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Collier Row conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agency in Collier Row where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Collier Row conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I am the registered owner of a second floor flat in Collier Row. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to decide the amount due.

An example of a Lease Extension decision for a Collier Row flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the unexpired residue of the current lease was 57.5 years.

When it comes to leasehold conveyancing in Collier Row what are the most common lease defects?

Leasehold conveyancing in Collier Row is not unique. Most leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Barclays Direct 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 is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Collier Row Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

What is the the remaining lease term? How much is the service charge and ground rent on the flat? What prohibitions exist in the Collier Row Lease?