Kensal Green leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Kensal Green. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Kensal Green - then the leasehold title will always include the short particulars 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.
Can you offer any advice when it comes to finding a Kensal Green conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Kensal Green conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Kensal Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- Can they put you in touch with client in Kensal Green who can give a testimonial?
Do you have any top tips for leasehold conveyancing in Kensal Green from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Kensal Green can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
- Many landlords or managing agents in Kensal Green levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Kensal Green.
Completion in due on the disposal of our £225000 apartment in Kensal Green in 10 days. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Kensal Green?
Kensal Green conveyancing on leasehold maisonettes usually involves fees being raised by management companies :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Kensal Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Kensal Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Lease Extension matter before the tribunal for a Kensal Green flat is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 84.34 years.
What are the frequently found problems that you see in leases for Kensal Green properties?
Leasehold conveyancing in Kensal Green 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 parts of the property
- 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
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Barclays Direct all have express requirements 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.