I have just started marketing my garden apartment in Ladywell.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – Do I pay up?

The sensible thing to do is 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 managing agents 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.

Back In 2009, I bought a leasehold flat in Ladywell. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Ladywell who acted for me is not around.Any advice?

First contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Ladywell conveyancing solicitor 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 landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two flats in Ladywell both have in the region of forty five years remaining on the lease term. Do I need to be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

All being well we will complete our sale of a £200000 maisonette in Ladywell in just under a week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Ladywell?

Ladywell conveyancing on leasehold maisonettes usually requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.

I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Ladywell conveyancing firm to help?

Absolutely. We are happy to put you in touch with a Ladywell conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Ladywell premises is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case related to 2 flats. The the unexpired residue of the current lease was 74.25 years.

What makes a Ladywell lease problematic?

There is nothing unique about leasehold conveyancing in Ladywell. All leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

Other Topics

Lease Extensions in Ladywell