I am in need of some leasehold conveyancing in Grove Park. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and 99.9% are in Grove Park - then the leasehold title will always include the short particulars 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 Grove Park. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner 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 ensure 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).

What advice can you give us when it comes to appointing a Grove Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Grove Park conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Grove Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• What volume of lease extensions has the firm carried out in Grove Park in the last 12 months?
• Can they put you in touch with client in Grove Park who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Grove Park with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Grove Park can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
• Many landlords or Management Companies in Grove Park levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Grove Park.
• A minority of Grove Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a lengthy process and slows down many a Grove Park conveyancing deal. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Grove Park conveyancing firm to represent me?

Most certainly. We can put you in touch with a Grove Park conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Grove Park residence is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case affected 1 flat. The the unexpired residue of the current lease was 23.26 years.

What are the frequently found defects that you witness in leases for Grove Park properties?

There is nothing unique about leasehold conveyancing in Grove Park. Most leases are individual and drafting errors can sometimes mean that certain clauses 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 property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

Leasehold Conveyancing in Grove Park - Sample of Questions you should ask Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? What restrictions exist in the Grove Park Lease?