Custom House leasehold conveyancing Example Support Desk Enquiries
Planning to sign contracts shortly on a studio apartment in Custom House. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Custom House should include some of the following:
- Setting out your rights in respect of common areas in the block.For example, does the lease permit a right of way over a path or staircase?
I've recently bought a leasehold flat in Custom House. Do I have any liability for service charges for periods before 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. 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 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 top tips for leasehold conveyancing in Custom House with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Custom House can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- The majority freeholders or managing agents in Custom House levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Custom House.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 maisonette in Custom House on Tuesday in a week. The managing agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Custom House?
Custom House conveyancing on leasehold flats more often than not necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
We have reached the end of our tether in trying to purchase the freehold in Custom House. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Custom House conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Custom House flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.
Are there frequently found defects that you come across in leases for Custom House properties?
There is nothing unique about leasehold conveyancing in Custom House. All leases are unique and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- 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
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and TSB all have express 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 defective they may refuse to provide security, obliging the purchaser to withdraw.