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Ickenham leasehold conveyancing: Q and A’s

I have just started marketing my ground floor flat in Ickenham.Conveyancing has not commenced but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Ickenham. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Ickenham are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Ickenham in which case you should be looking for a Ickenham conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority 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 comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

Can you offer any advice when it comes to finding a Ickenham conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Ickenham 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 several firms including non Ickenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

  • Do you have any advice for leasehold conveyancing in Ickenham with the aim of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Ickenham can be avoided where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
    • A minority of Ickenham 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 put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 clearly preferable to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a lengthy process and frustrates many a Ickenham home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Ickenham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price payable.

    An example of a Lease Extension decision for a Ickenham flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case affected 1 flat. The the unexpired term as at the valuation date was 53.26 years.

    In relation to leasehold conveyancing in Ickenham what are the most common lease defects?

    Leasehold conveyancing in Ickenham is not unique. Most leases are unique and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter 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. Accord Mortgages Ltd, Virgin Money, and Alliance & Leicester 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 does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Ickenham