Recently asked questions relating to Romford leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Romford. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in Romford - then the leasehold title will always include the basic details 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.
I only have Sixty One years left on my lease in Romford. I need to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, 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 magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Romford.
I am a negotiator for a reputable estate agent office in Romford where we have witnessed a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Romford conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to choosing a Romford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Romford conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Romford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
All being well we will complete the disposal of our £125000 flat in Romford on Thursday in a week. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Romford?
Romford conveyancing on leasehold flats often involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.
I have given up trying to reach an agreement for a lease extension in Romford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Romford conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Romford premises 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 affected 1 flat. The the unexpired residue of the current lease was 57.5 years.