Questions and Answers: Pinner leasehold conveyancing
Estate agents have just been given the go-ahead to market my ground floor flat in Pinner.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear 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. 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 appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Pinner. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Pinner are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Pinner so you should seriously consider looking for a Pinner conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
I own a leasehold flat in Pinner. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Pinner who previously acted has now retired.Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Pinner conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Pinner. Do I have any liability for 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).
I am the registered owner of a basement flat in Pinner. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Pinner conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Pinner premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The the number of years remaining on the existing lease(s) was 71 years.
Are there frequently found deficiencies that you encounter in leases for Pinner properties?
Leasehold conveyancing in Pinner is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I bought a garden flat in Pinner, conveyancing was carried out in 2006. How much will my lease extension cost? Equivalent properties in Pinner with an extended lease are worth £260,000. The ground rent is £45 per annum. The lease ends on 21st October 2094
With 68 years left to run the likely cost is going to be between £13,300 and £15,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.