Estate agents have just been given the go-ahead to market my ground floor flat in Falconwood.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is 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 unless 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Falconwood. Conveyancing and TSB mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Falconwood who previously acted has long since retired.Do I pay?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Falconwood conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of apartments in Falconwood both have approximately forty five years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Falconwood is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Falconwood conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Falconwood with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Falconwood can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
• Many freeholders or Management Companies in Falconwood charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Falconwood.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Falconwood leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Should you fail to have the paperwork to hand you should not contact the landlord without contacting your lawyer before hand.
• A minority of Falconwood leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 lawyers.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and 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 will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled.

If all goes to plan we aim to complete the disposal of our £ 250000 flat in Falconwood in 8 days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Falconwood?

Falconwood conveyancing on leasehold apartments nine out of ten times results in administration charges invoiced by freeholders :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Falconwood
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Falconwood leasehold property is £350. For Falconwood conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

I have had difficulty in trying to purchase the freehold in Falconwood. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.

An example of a Lease Extension decision for a Falconwood flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.

Falconwood Leasehold Conveyancing - Examples of Queries Prior to Purchasing

This question is useful as a) areas could cause problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have complete disclosure For many Falconwood leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Falconwood ask leaseholders to contribute towards a sinking fund and this is used to offset against larger works. You should be aware if it is fewer than 80 years it will affect the value of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Falconwoodlease extensions you will need to own the residence for 24 months in order to be entitled to extend the lease.