Fixed-fee leasehold conveyancing in Cranham:

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Sample questions relating to Cranham leasehold conveyancing

I am on look out for some leasehold conveyancing in Cranham. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Cranham - 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've recently bought a leasehold flat in Cranham. Am I liable to pay service charges for periods before 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. 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 be sure 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 provide any advice for leasehold conveyancing in Cranham with the aim of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Cranham can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Cranham state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you dont have the consents to hand you should not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Cranham leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Organising a new share certificate is often a lengthy process and frustrates many a Cranham conveyancing transaction. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on the sale of our £400000 maisonette in Cranham next Thursday . The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Cranham?

    Cranham conveyancing on leasehold maisonettes usually necessitates administration charges raised by freeholders :

    • Completing pre-contract enquiries
    • Where consent is required before sale in Cranham
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Cranham leasehold premises is £350. For Cranham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

    We have reached the end of our tether in trying to purchase the freehold in Cranham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We are happy to put you in touch with a Cranham conveyancing firm who can help.

    An example of a Lease Extension decision for a Cranham premises 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 term was 57.5 years.

    What makes a Cranham lease defective?

    There is nothing unique about leasehold conveyancing in Cranham. All leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Norwich and Peterborough Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.