Fixed-fee leasehold conveyancing in Coombe:

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Recently asked questions relating to Coombe leasehold conveyancing

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Coombe. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Coombe ?

The majority of houses in Coombe are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Coombe in which case you should be looking for a Coombe 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 number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.

Last month I purchased a leasehold flat in Coombe. Am I liable to pay service charges for periods before my ownership?

In a situation 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. 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).

Can you offer any advice when it comes to finding a Coombe conveyancing practice to carry out our lease extension conveyancing?

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

  • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Can you provide any advice for leasehold conveyancing in Coombe from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Coombe can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • Some Coombe leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You will have to accept that you will have to 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Obtaining a new share certificate is often a lengthy process and frustrates many a Coombe conveyancing deal. Where a reissued share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Completion in due on our sale of a £475000 maisonette in Coombe next Friday . The management company has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Coombe?

    Coombe conveyancing on leasehold maisonettes often involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Coombe. Can this matter be resolved via the Leasehold Valuation Tribunal?

    if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the amount due.

    An example of a Freehold Enfranchisement case for a Coombe premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The the unexpired residue of the current lease was 98 years.