I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Harrow. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Harrow 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. We note that you are buying in Harrow in which case you should be looking for a Harrow conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of apartments in Harrow which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

What are your top tips when it comes to appointing a Harrow conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Harrow conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Harrow conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions has the firm carried out in Harrow in the last twenty four months?

What are the charges for lease extension work?

Do you have any advice for leasehold conveyancing in Harrow with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Harrow can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• Many landlords or managing agents in Harrow levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Harrow.

Some Harrow leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.

If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.

If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and delays many a Harrow home move. If a reissued share is required, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £500000 garden flat in Harrow next week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Harrow?

Harrow conveyancing on leasehold apartments ordinarily involves administration charges levied by management companies :

• Answering pre-exchange enquiries
• Where consent is required before sale in Harrow
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Harrow leasehold property is £350. For Harrow conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

I am the leaseholder of a ground-floor 1960’s flat in Harrow. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

Most certainly. We are happy to put you in touch with a Harrow conveyancing firm who can help.

An example of a Lease Extension case for a Harrow residence is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case related to 1 flat. The the unexpired residue of the current lease was 75.25 years.

Other Topics

Lease Extensions in Harrow