Recently asked questions relating to North Woolwich leasehold conveyancing
I am on look out for some leasehold conveyancing in North Woolwich. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in North Woolwich - 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 garden flat in North Woolwich.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is 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 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. This will smooth the conveyancing process.
I am attracted to a couple of apartments in North Woolwich both have in the region of forty five years remaining on the leases. Will this present a problem?
There are plenty of short leases in North Woolwich. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in North Woolwich from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in North Woolwich can be avoided where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
- The majority landlords or managing agents in North Woolwich levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in North Woolwich.
Completion in due on our sale of a £350000 garden flat in North Woolwich on Thursday in a week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in North Woolwich?
North Woolwich conveyancing on leasehold maisonettes usually results in fees being invoiced by management companies :
- Addressing pre-exchange enquiries
- Where consent is required before sale in North Woolwich
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a North Woolwich conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a North Woolwich conveyancing firm who can help.
An example of a Lease Extension decision for a North Woolwich flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The the unexpired residue of the current lease was 69.77 years.