Longlands leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Longlands. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Longlands - 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 Longlands.Conveyancing is yet to be initiated but I have just received a yearly service 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 management companies will not acknowledge the buyer until 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 am tempted by the attractive purchase price for a two flats in Longlands both have in the region of 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Longlands. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold house in Longlands. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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 £125000 apartment in Longlands in 8 days. The freeholder has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Longlands?
Longlands conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Longlands. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, 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 judgment on the price payable.
An example of a Lease Extension decision for a Longlands premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.