Fixed-fee leasehold conveyancing in Old Oak Common:

When it comes to leasehold conveyancing in Old Oak Common, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Birmingham Midshires or NatWest make sure you choose a lawyer on their panel. Find a Old Oak Common conveyancing lawyer with our search tool

Recently asked questions relating to Old Oak Common leasehold conveyancing

Due to sign contracts shortly on a studio apartment in Old Oak Common. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Old Oak Common should include some of the following:

  • Are you allowed to have a pet in the flat?
  • Whether the lease restricts you from renting out the property, or working from home
  • 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 reserve fund?
  • You should have a good understanding of the insurance provisions
  • 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.
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Old Oak Common please ask your lawyer in advance of your conveyancing in Old Oak Common

  • Last month I purchased a leasehold house in Old Oak Common. Do I have any liability for service charges for periods before my ownership?

    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).

    What advice can you give us when it comes to choosing a Old Oak Common conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for your lease extension (regardless if they are a Old Oak Common conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Old Oak Common conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Old Oak Common who can give a testimonial?

  • Can you provide any top tips for leasehold conveyancing in Old Oak Common with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Old Oak Common can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
    • Some Old Oak Common leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The 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 purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate can be a lengthy formality and frustrates many a Old Oak Common home move. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an as soon as possible that you identify 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.

  • We expect to complete our sale of a £250000 garden flat in Old Oak Common in nine days. The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Old Oak Common?

    For the majority of leasehold sales in Old Oak Common conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering pre-contract enquiries
    • Where consent is required before sale in Old Oak Common
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Old Oak Common leasehold premises is £350. For Old Oak Common conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

    I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Old Oak Common conveyancing firm to help?

    Absolutely. We are happy to put you in touch with a Old Oak Common conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Old Oak Common flat is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case related to 2 flats. The remaining number of years on the lease was 68.47 years.