Common questions relating to Downham leasehold conveyancing
Having checked my lease I have discovered that there are only 62 years left on my flat in Downham. I now want to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent should be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Downham.
I am hoping to exchange soon on a leasehold property in Downham. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Downham should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Are you allowed to have a pet in the flat?
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- You should have a good understanding of the insurance provisions
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
I have just appointed agents to market my 2 bed flat in Downham.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – Do I pay up?
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 management companies 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.
Do you have any advice for leasehold conveyancing in Downham with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Downham can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- Many landlords or managing agents in Downham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Downham.
- A minority of Downham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
- If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 clearly preferable to present the dispute as historic rather than ongoing.
- If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Organising a new share certificate is often a time consuming formality and delays many a Downham conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
All being well we will complete the sale of our £ 500000 flat in Downham next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Downham?
Downham conveyancing on leasehold flats usually necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to do so. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to complete the sale of your home.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Downham conveyancing firm to assist?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Freehold Enfranchisement case for a Downham premises is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
I inherited a 1 bedroom flat in Downham, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Downham with an extended lease are worth £237,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2081
With only 55 years unexpired the likely cost is going to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.