Experts for Leasehold Conveyancing in Queensbury

Any conveyancing practice can theoretically handle your leasehold conveyancing in Queensbury, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Queensbury leasehold conveyancing: Q and A’s

I’m about to sell my garden apartment in Queensbury.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – what should I do?

The sensible thing to do is discharge 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 unless 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 am looking at a two apartments in Queensbury both have about forty five years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to finding a Queensbury conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Queensbury conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Queensbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • Can you provide any top tips for leasehold conveyancing in Queensbury with the intention of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Queensbury can be bypassed if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
    • Many landlords or managing agents in Queensbury levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Queensbury.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Queensbury leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. Where you dont have the paperwork to hand do not communicate with the landlord without contacting your solicitor in advance.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • All being well we will complete the sale of our £500000 flat in Queensbury in just under a week. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Queensbury?

    Queensbury conveyancing on leasehold flats often involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.

    Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Queensbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the premium.

    An example of a Lease Extension matter before the tribunal for a Queensbury residence is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The unexpired lease term was 71.55 years.

    Other Topics

    Lease Extensions in Queensbury