Fixed-fee leasehold conveyancing in Malden Rushett:

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Questions and Answers: Malden Rushett leasehold conveyancing

Due to complete next month on a basement flat in Malden Rushett. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Malden Rushett should include some of the following:

  • You should receive a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Are you allowed to have a pet in the flat?
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Malden Rushett please ask your lawyer in advance of your conveyancing in Malden Rushett

    • I have just started marketing my 2 bed flat in Malden Rushett.Conveyancing has not commenced but I have just received a half-yearly service charge demand – what should I do?

    The sensible thing to do is pay 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.

    I've recently bought a leasehold flat in Malden Rushett. Am I liable to pay service charges for periods before completion of my purchase?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

    I am a negotiator for a reputable estate agent office in Malden Rushett where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Malden Rushett conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    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 purchaser.

    What advice can you give us when it comes to finding a Malden Rushett conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Malden Rushett conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Malden Rushett conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How many lease extensions has the firm completed in Malden Rushett in the last 12 months?
  • Can they put you in touch with client in Malden Rushett who can give a testimonial?

    • I am the registered owner of a ground floor flat in Malden Rushett. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

    in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.

    An example of a Lease Extension decision for a Malden Rushett residence 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.

    Other Topics

    Lease Extensions in Malden Rushett