Frequently asked questions relating to Harrow Weald leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Harrow Weald. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Harrow Weald - then the leasehold title will always include the basic details 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.
Estate agents have just been given the go-ahead to market my 2 bed flat in Harrow Weald.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Harrow Weald. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Harrow Weald are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Harrow Weald in which case you should be looking for a Harrow Weald conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As 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 landlord’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 house is part of an estate. Your conveyancer should appraise you on the various issues.
What advice can you give us when it comes to finding a Harrow Weald conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Harrow Weald conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Harrow Weald conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
- How many lease extensions has the firm completed in Harrow Weald in the last twenty four months?
Do you have any top tips for leasehold conveyancing in Harrow Weald with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Harrow Weald can be avoided if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
- The majority landlords or managing agents in Harrow Weald 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 pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Harrow Weald.
- Some Harrow Weald leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.
- If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Organising a re-issued share certificate can be a lengthy formality and frustrates many a Harrow Weald conveyancing transaction. Where a duplicate share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
After 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 related to 1 flat. The the unexpired term as at the valuation date was 75.25 years.
Harrow Weald Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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Is the freehold owned jointly by the leaseholders?