Frognal leasehold conveyancing Example Support Desk Enquiries
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Frognal. Conveyancing advisers 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. it is apparent that you are buying in Frognal in which case you should be looking for a Frognal conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.
Last month I purchased a leasehold flat in Frognal. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation 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. 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).
Can you offer any advice when it comes to finding a Frognal conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Frognal conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Frognal conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Frognal from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Frognal can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Frognal state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer in advance.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 garden flat in Frognal next Friday . The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Frognal?
Frognal conveyancing on leasehold flats ordinarily results in administration charges raised by management companies :
- Answering pre-contract questions
- Where consent is required before sale in Frognal
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Frognal. Can the Leasehold Valuation Tribunal adjudicate on premiums?
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 residence 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 was in relation to 2 flats. The remaining number of years on the lease was 16.83 and 16.43.