Top Five Questions relating to Collier Row leasehold conveyancing
I am hoping to sign contracts shortly on a studio apartment in Collier Row. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Collier Row should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my garden apartment in Collier Row.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is 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 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Collier Row. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Collier Row ?
The majority of houses in Collier Row are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Collier Row so you should seriously consider shopping around for a Collier Row conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
Back In 2009, I bought a leasehold house in Collier Row. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Collier Row who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Collier Row conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We expect to complete the disposal of our £275000 garden flat in Collier Row in 10 days. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Collier Row?
Collier Row conveyancing on leasehold apartments usually involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to sell the property.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Collier Row. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to decide the premium.
An example of a Lease Extension matter before the tribunal for a Collier Row property 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 number of years remaining on the existing lease(s) was 57.5 years.