Kingston upon Thames leasehold conveyancing: Q and A’s
I’m about to sell my garden flat in Kingston upon Thames.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – Do I pay up?
It best that you discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2009, I bought a leasehold flat in Kingston upon Thames. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Kingston upon Thames who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Kingston upon Thames conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a reputable estate agency in Kingston upon Thames where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Kingston upon Thames conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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.
What advice can you give us when it comes to finding a Kingston upon Thames conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Kingston upon Thames conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Kingston upon Thames conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
- How many lease extensions have they carried out in Kingston upon Thames in the last 12 months?
Can you provide any advice for leasehold conveyancing in Kingston upon Thames with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Kingston upon Thames can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
- The majority landlords or Management Companies in Kingston upon Thames charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Kingston upon Thames.
- If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Kingston upon Thames state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you fail to have the approvals to hand do not contact the landlord without contacting your lawyer first.
- Some Kingston upon Thames leases require Licence to Assign from the landlord. If this applies to your lease, you should 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 financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
- If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a lengthy formality and frustrates many a Kingston upon Thames home move. If a new share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
I have had difficulty in trying to purchase the freehold in Kingston upon Thames. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Kingston upon Thames conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kingston upon Thames property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.
Kingston upon Thames Leasehold Conveyancing - A selection of Queries before buying
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How long is the Lease?
Who are the managing agents?