Examples of recent questions relating to leasehold conveyancing in Harold Park
I have just started marketing my garden flat in Harold Park.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is discharge 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. This will smooth the conveyancing process.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Harold Park. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Harold Park are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Harold Park in which case you should be shopping around for a Harold Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.
Can you offer any advice when it comes to appointing a Harold Park conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Harold Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Harold Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 apartment in Harold Park next Friday . The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Harold Park?
Harold Park conveyancing on leasehold flats usually results in administration charges levied by management companies :
- Completing pre-contract enquiries
- Where consent is required before sale in Harold Park
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a first floor flat in Harold Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Absolutely. We are happy to put you in touch with a Harold Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Harold Park flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.
Are there frequently found deficiencies that you see in leases for Harold Park properties?
There is nothing unique about leasehold conveyancing in Harold Park. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- 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
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.