Kensal Green leasehold conveyancing Example Support Desk Enquiries
Estate agents have just been given the go-ahead to market my garden flat in Kensal Green.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is pay 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Kensal Green. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Kensal Green who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Kensal Green conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Kensal Green where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Kensal Green conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Completion in due on the sale of our £ 375000 apartment in Kensal Green in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Kensal Green?
Kensal Green conveyancing on leasehold apartments ordinarily results in administration charges invoiced by management companies :
- Completing pre-contract questions
- Where consent is required before sale in Kensal Green
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Kensal Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Kensal Green conveyancing firm who can help.
An example of a Lease Extension decision 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 84.34 years.
What are the frequently found deficiencies that you witness in leases for Kensal Green properties?
There is nothing unique about leasehold conveyancing in Kensal Green. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- 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 may encounter 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, Norwich and Peterborough Building Society, and Aldermore 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.
I purchased a basement flat in Kensal Green, conveyancing formalities finalised 2003. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Kensal Green with an extended lease are worth £269,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2089
With 63 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.