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

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Leasehold conveyancing in Colliers Wood is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Colliers Wood and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Colliers Wood leasehold conveyancing

Estate agents have just been given the go-ahead to market my ground floor apartment in Colliers Wood.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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've recently bought a leasehold house in Colliers Wood. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

What are your top tips when it comes to choosing a Colliers Wood conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Colliers Wood conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Colliers Wood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Colliers Wood who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Colliers Wood from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Colliers Wood can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Colliers Wood charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Colliers Wood.
  • Some Colliers Wood leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (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 purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming formality and delays many a Colliers Wood home move. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 apartment in Colliers Wood in just under a week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Colliers Wood?

    Colliers Wood conveyancing on leasehold apartments normally requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority 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 costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Colliers Wood. Can we issue an application to the Residential Property Tribunal Service?

    Most definitely. 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 flat 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 term was 62.94 years.

    Other Topics

    Lease Extensions in Colliers Wood