Questions and Answers: Erith leasehold conveyancing
I am on look out for some leasehold conveyancing in Erith. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Erith - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I've recently bought a leasehold property in Erith. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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 offer any advice when it comes to appointing a Erith conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Erith conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Erith 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:
- Can they put you in touch with client in Erith who can give a testimonial?
Do you have any advice for leasehold conveyancing in Erith with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Erith can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or Management Companies in Erith charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Erith.
If all goes to plan we aim to complete our sale of a £300000 garden flat in Erith next week. The freeholder has quoted £384 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 Erith?
Erith conveyancing on leasehold flats usually involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you if you want to sell the property.
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Erith. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Erith conveyancing firm who can help.
An example of a Lease Extension decision for a Erith residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the unexpired residue of the current lease was 76 years.
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