Having had my offer accepted I require leasehold conveyancing in Collier Row. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% 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 only have Sixty One years remaining on my flat in Collier Row. I now wish to get lease extension but my landlord is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have used your best endeavours to find the lessor. For most situations an enquiry agent should be helpful to conduct investigations and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Collier Row.

Estate agents have just been given the go-ahead to market my garden apartment in Collier Row.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 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 tempted by the attractive purchase price for a two maisonettes in Collier Row both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money 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 area

Last month I purchased a leasehold flat in Collier Row. Do I have any liability for service charges relating to a period prior to my ownership?

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 ensure 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).

Despite our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Collier Row. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

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 related to 1 flat. The unexpired lease term was 57.5 years.

Collier Row Leasehold Conveyancing - Sample of Queries Prior to Purchasing

It is important to be aware whether changing the roof or some other significant cost is anticipated that will be shared between the tenants and may well dramatically increase the the service charges or require a one off payment. How much is the maintenance charge and ground rent on the property?