Recently asked questions relating to Osterley leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Osterley. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Osterley - then the leasehold title will always include the short particulars 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.
Planning to complete next month on a garden flat in Osterley. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Osterley should include some of the following:
- You should be sent a copy of the lease
I’m about to sell my ground floor flat in Osterley.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold house in Osterley. Am I liable to pay service charges relating to a period prior to 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. However, 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).
If all goes to plan we aim to complete the sale of our £250000 garden flat in Osterley on Thursday in a week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Osterley?
Osterley conveyancing on leasehold flats normally requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Osterley conveyancing firm to represent me?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension case for a Osterley property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired lease term was 60.45 years.
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