Examples of recent questions relating to leasehold conveyancing in Harrow Weald
I’m about to sell my 2 bed apartment in Harrow Weald.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear 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 unless 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 am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Harrow Weald. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Harrow Weald ?
Most houses in Harrow Weald are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Harrow Weald so you should seriously consider looking for a Harrow Weald conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.
I am looking at a couple of maisonettes in Harrow Weald which have approximately forty five years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Harrow Weald. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
All being well we will complete our sale of a £250000 flat in Harrow Weald in seven days. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Harrow Weald?
Harrow Weald conveyancing on leasehold flats usually necessitates fees being invoiced by managing agents :
- Addressing conveyancing due diligence enquiries
- 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
My wife and I have hit a brick wall in negotiating a lease extension in Harrow Weald. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Lease Extension case for a Harrow Weald property 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 was in relation to 1 flat. The unexpired lease term was 75.25 years.
In relation to leasehold conveyancing in Harrow Weald what are the most common lease defects?
Leasehold conveyancing in Harrow Weald is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- 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.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed 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, forcing the buyer to pull out.