Sample questions relating to Dollis Hill leasehold conveyancing
I have just started marketing my ground floor apartment in Dollis Hill.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold property in Dollis Hill. Do I have any liability for 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).
I am a negotiator for a reputable estate agent office in Dollis Hill where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Dollis Hill conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
All being well we will complete the disposal of our £475000 apartment in Dollis Hill next week. The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Dollis Hill?
Dollis Hill conveyancing on leasehold maisonettes normally involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Dollis Hill. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Dollis Hill property is 12 Deacon Road in November 2012. the premium to be paid for the grant of the new lease was the sum of £31 ,635.00 (Thirty-One thousand and six hundred and thirty-five Pounds). The matter was then returned to the Willesden County Court for the completion of the grant of the new lease in substitution for the existing lease on payment into court the sum of £31,635.00 less the sum of £2,890.20 assessed costs incurred by the leaseholder. Thus the net sum of £28,744.80 was to be paid into court. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 61.98 years.
When it comes to leasehold conveyancing in Dollis Hill what are the most common lease problems?
Leasehold conveyancing in Dollis Hill is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Bank of Ireland all have very detailed requirements 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 grant the mortgage, obliging the purchaser to withdraw.