Common questions relating to Lampton leasehold conveyancing
Due to complete next month on a leasehold property in Lampton. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Lampton should include some of the following:
- Does the lease prevent you from letting out the property, or working from home
I have just appointed agents to market my basement flat in Lampton.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Lampton. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in Lampton are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Lampton so you should seriously consider shopping around for a Lampton conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.
I am a negotiator for a busy estate agency in Lampton where we have experienced a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Lampton conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as 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. The benefit of this is 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 disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
All being well we will complete the sale of our £375000 maisonette in Lampton in 10 days. The landlords agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Lampton?
For most leasehold sales in Lampton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange enquiries
- Where consent is required before sale in Lampton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Lampton conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a Lampton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Lampton residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired term was 60.45 years.