Common questions relating to Earls Court leasehold conveyancing
Planning to complete next month on a studio apartment in Earls Court. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Earls Court should include some of the following:
- The physical extent of the premises. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
I own a leasehold house in Earls Court. Conveyancing and Virgin Money mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Earls Court who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Earls Court conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agent office in Earls Court where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Earls Court conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that 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 proposed purchaser 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.
Do you have any top tips for leasehold conveyancing in Earls Court with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Earls Court can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or managing agents in Earls Court charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Earls Court.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 apartment in Earls Court next Wednesday . The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Earls Court?
Earls Court conveyancing on leasehold maisonettes nine out of ten times necessitates administration charges invoiced by landlords agents :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Earls Court
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Earls Court conveyancing firm to assist?
if there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Earls Court premises is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case related to 5 flats. The the unexpired residue of the current lease was 38.98 years.