Questions and Answers: Kew leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kew. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Kew - 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.
Due to complete next month on a leasehold property in Kew. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Kew should include some of the following:
- You should receive a copy of the lease
I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Kew. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Kew ?
The majority of houses in Kew 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 Kew so you should seriously consider shopping around for a Kew conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold flat in Kew. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 flat in Kew next Monday . The management company has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Kew?
Kew conveyancing on leasehold apartments usually requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
Notwithstanding our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Kew. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases 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 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a Kew property is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case affected 1 flat. The unexpired term was 68.34 years.