I am in need of some leasehold conveyancing in Collier Row. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Collier Row - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Collier Row. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Collier Row are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Collier Row in which case you should be looking for a Collier Row conveyancing practitioner and be sure 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 lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am attracted to a two maisonettes in Collier Row which have about 50 years left on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I am employed by a busy estate agency in Collier Row where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Collier Row conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Completion in due on our sale of a £225000 apartment in Collier Row in 5 days. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Collier Row?

Collier Row conveyancing on leasehold flats usually necessitates the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you if you want to sell the property.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Collier Row conveyancing firm to help?

You certainly can. We can put you in touch with a Collier Row conveyancing firm who can help.

An example of a Lease Extension case for a Collier Row premises 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 affected 1 flat. The unexpired term was 57.5 years.