Fixed-fee leasehold conveyancing in Noak Hill:

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Questions and Answers: Noak Hill leasehold conveyancing

Planning to complete next month on a studio apartment in Noak Hill. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Noak Hill should include some of the following:

  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Noak Hill please ask your lawyer in ahead of your conveyancing in Noak Hill

    • Estate agents have just been given the go-ahead to market my basement flat in Noak Hill.Conveyancing has not commenced but I have just had a yearly service charge invoice – what should I do?

    It best that you pay 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 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Noak Hill. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Noak Hill ?

    Most houses in Noak Hill are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Noak Hill so you should seriously consider shopping around for a Noak Hill conveyancing solicitor and be sure that they are used to advising on leasehold houses. First 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 comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.

    I've recently bought a leasehold property in Noak Hill. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    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. However, 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).

    Do you have any advice for leasehold conveyancing in Noak Hill from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Noak Hill can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • Many freeholders or Management Companies in Noak Hill charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Noak Hill.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Noak Hill state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork in place do not communicate with the landlord without contacting your solicitor in the first instance.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy formality and delays many a Noak Hill home move. If a reissued share certificate is required, you should approach the company officers 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 you should verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Noak Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a Noak Hill property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.

    Other Topics

    Lease Extensions in Noak Hill