Gunnersbury leasehold conveyancing Example Support Desk Enquiries
Expecting to exchange soon on a garden flat in Gunnersbury. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Gunnersbury should include some of the following:
- The physical extent of the demise. This will be the property itself but might include a roof space or basement if appropriate.
Last month I purchased a leasehold house in Gunnersbury. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. It is an essential part 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 choosing a Gunnersbury conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Gunnersbury conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Gunnersbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- What volume of lease extensions have they completed in Gunnersbury in the last 12 months?
Can you provide any advice for leasehold conveyancing in Gunnersbury with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Gunnersbury can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
- The majority freeholders or Management Companies in Gunnersbury charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Gunnersbury.
My wife and I have hit a brick wall in trying to purchase the freehold in Gunnersbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Gunnersbury conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Gunnersbury residence is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case affected 2 flats. The unexpired lease term was 64.64 years.
What makes a Gunnersbury lease unacceptable for security purposes?
Leasehold conveyancing in Gunnersbury is not unique. Most leases are individual and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair 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.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Mortgage Works, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.