Guaranteed fixed fees for Leasehold Conveyancing in Forest Gate

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Forest Gate leasehold conveyancing Example Support Desk Enquiries

I have just appointed agents to market my basement flat in Forest Gate.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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.

I own a leasehold flat in Forest Gate. Conveyancing and TSB mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Forest Gate who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Forest Gate conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a long established estate agency in Forest Gate where we see a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Forest Gate conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. 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.

Completion in due on our sale of a £475000 garden flat in Forest Gate in just under a week. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Forest Gate?

Forest Gate conveyancing on leasehold apartments often requires the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They are at liberty levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.

I am the proprietor of a ground floor flat in Forest Gate. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

in cases where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.

An example of a Freehold Enfranchisement decision for a Forest Gate residence is 52 & 54 Green Street in February 2010. Following a vesting order by the County Court the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 78 and 80.

When it comes to leasehold conveyancing in Forest Gate what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Forest Gate. All leases are unique and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain elements of the premises
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Chelsea Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Other Topics

Lease Extensions in Forest Gate