Recently asked questions relating to Frognal leasehold conveyancing
I have just appointed agents to market my basement apartment in Frognal.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay 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 managing agents 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. This will smooth the conveyancing process.
I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Frognal. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Frognal ?
The majority of houses in Frognal are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Frognal so you should seriously consider looking for a Frognal conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Frognal. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Frognal who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Frognal conveyancing solicitor to do this as it can be done on-line for £3. Rest assured 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 am employed by a busy estate agent office in Frognal where we have experienced a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Frognal conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. This means that the proposed purchaser need not have to sit tight for 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 disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
All being well we will complete the sale of our £300000 apartment in Frognal on Wednesday in a week. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Frognal?
Frognal conveyancing on leasehold apartments often requires the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
I inherited a a ground floor purpose built flat in Frognal. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most definitely. We can put you in touch with a Frognal conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Frognal premises is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case related to 2 flats. The unexpired term was 16.83 and 16.43.