Questions and Answers: Harrow Weald leasehold conveyancing
I have just appointed agents to market my 2 bed flat in Harrow Weald.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 managing agents 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.
Last month I purchased a leasehold house in Harrow Weald. 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 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. 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).
Do you have any advice for leasehold conveyancing in Harrow Weald with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Harrow Weald can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
- Many landlords or managing agents in Harrow Weald levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Harrow Weald.
All being well we will complete our sale of a £275000 apartment in Harrow Weald in just under a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Harrow Weald?
Harrow Weald conveyancing on leasehold flats normally results in administration charges raised by landlords agents :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Harrow Weald
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Harrow Weald. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Harrow Weald conveyancing firm who can help.
An example of a Lease Extension case for a Harrow Weald flat 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 affected 1 flat. The remaining number of years on the lease was 75.25 years.
What makes a Harrow Weald lease unacceptable for security purposes?
Leasehold conveyancing in Harrow Weald is not unique. Most leases are individual and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and TSB 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 problematic they may refuse to provide security, forcing the buyer to pull out.