Experts for Leasehold Conveyancing in Elm Park

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Recently asked questions relating to Elm Park leasehold conveyancing

I only have 62 years left on my flat in Elm Park. I am keen to get lease extension but my landlord is can not be found. What should I do?

On the basis that 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 demonstrate that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist would be helpful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Elm Park.

I’m about to sell my 2 bed apartment in Elm Park.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you pay the service charge 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.

I've recently bought a leasehold flat in Elm Park. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation 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. 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).

What are your top tips when it comes to appointing a Elm Park conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Elm Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Elm Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How many lease extensions have they carried out in Elm Park in the last year?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Elm Park from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Elm Park can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Elm Park state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. If you fail to have the consents in place you should not contact the landlord without checking with your lawyer first.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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 better to present the dispute as over rather than unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy formality and frustrates many a Elm Park home move. Where a new share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Despite our best efforts, we have been unsuccessful in seeking a lease extension in Elm Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the premium.

    An example of a Lease Extension case for a Elm Park residence 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 affected 1 flat. The unexpired term was 57.5 years.

    Other Topics

    Lease Extensions in Elm Park