Leasehold Conveyancing in Colliers Wood - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Colliers Wood, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Colliers Wood leasehold conveyancing: Q and A’s

Looking forward to exchange soon on a basement flat in Colliers Wood. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Colliers Wood should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • You need to be told what constitutes a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Colliers Wood please enquire of your lawyer in ahead of your conveyancing in Colliers Wood

    • I have just started marketing my garden apartment in Colliers Wood.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

    It best that you 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. This will smooth the conveyancing process.

    I own a leasehold house in Colliers Wood. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Colliers Wood who previously acted has long since retired.Do I pay?

    The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Colliers Wood conveyancing solicitor to do this as it can be done on-line 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.

    I am employed by a reputable estate agency in Colliers Wood where we have witnessed a number of flat sales derailed due to short leases. I have been given conflicting advice from local Colliers Wood conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. 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 disposal of the property.

    Alternatively, it may be possible 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 purchaser.

    Do you have any advice for leasehold conveyancing in Colliers Wood with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Colliers Wood can be bypassed if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Colliers Wood leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such works. If you dont have the paperwork in place do not contact the landlord without contacting your solicitor first.
  • A minority of Colliers Wood leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming formality and delays many a Colliers Wood home move. Where a reissued share is required, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • My wife and I have hit a brick wall in seeking a lease extension in Colliers Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We can put you in touch with a Colliers Wood conveyancing firm who can help.

    An example of a Lease Extension decision for a Colliers Wood residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The unexpired lease term was 62.94 years.

    Other Topics

    Lease Extensions in Colliers Wood