Experts for Leasehold Conveyancing in Romford

When it comes to leasehold conveyancing in Romford, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Questions and Answers: Romford leasehold conveyancing

I have recently realised that I have Seventy years unexpired on my lease in Romford. I now wish to extend my lease but my freeholder is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be useful to try and locate and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Romford.

I have just started marketing my 2 bed flat in Romford.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 management companies 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Romford. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Romford ?

The majority of houses in Romford are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Romford in which case you should be shopping around for a Romford conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 maisonette in Romford in 5 days. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Romford?

Romford conveyancing on leasehold apartments more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Romford. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the premium.

An example of a Lease Extension case for a Romford residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The the unexpired residue of the current lease was 57.5 years.

What are the frequently found problems that you encounter in leases for Romford properties?

Leasehold conveyancing in Romford is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain parts of the building
  • A duty to insure the building
  • A provision for the recovery of money spent for the benefit of another party.
  • Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Other Topics

Lease Extensions in Romford