Fixed-fee leasehold conveyancing in North Ockendon:

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Sample questions relating to North Ockendon leasehold conveyancing

I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in North Ockendon. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in North Ockendon ?

The majority of houses in North Ockendon are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in North Ockendon so you should seriously consider shopping around for a North Ockendon 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. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.

Last month I purchased a leasehold flat in North Ockendon. 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. It is an essential part 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).

What advice can you give us when it comes to choosing a North Ockendon conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a North Ockendon conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non North Ockendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in North Ockendon who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in North Ockendon with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in North Ockendon can be bypassed where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • Many landlords or managing agents in North Ockendon 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 can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in North Ockendon.
  • A minority of North Ockendon leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate can be a lengthy process and frustrates many a North Ockendon conveyancing deal. If a new share is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125000 garden flat in North Ockendon next Tuesday . The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in North Ockendon?

    North Ockendon conveyancing on leasehold apartments usually requires the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. 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 exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    My wife and I have hit a brick wall in seeking a lease extension in North Ockendon. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the amount due.

    An example of a Lease Extension case for a North Ockendon 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 57.5 years.

    Other Topics

    Lease Extensions in North Ockendon