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Examples of recent questions relating to leasehold conveyancing in Knightsbridge

I am on look out for some leasehold conveyancing in Knightsbridge. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Knightsbridge - then the leasehold title will always include the basic details 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.

I have just appointed agents to market my 2 bed flat in Knightsbridge.Conveyancing has not commenced but I have just had a half-yearly service charge demand – what should I do?

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 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold flat in Knightsbridge. Conveyancing and Coventry Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Knightsbridge who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Knightsbridge conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Knightsbridge from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Knightsbridge can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
  • Some Knightsbridge leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Knightsbridge home move. Where a duplicate share is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £175000 maisonette in Knightsbridge on Monday in a week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Knightsbridge?

    Knightsbridge conveyancing on leasehold flats normally necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be content to assist. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.

    I have had difficulty in negotiating a lease extension in Knightsbridge. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We can put you in touch with a Knightsbridge conveyancing firm who can help.

    An example of a Lease Extension case for a Knightsbridge property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case related to 1 flat. The unexpired lease term was 13.33 years.

    Other Topics

    Lease Extensions in Knightsbridge