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Common questions relating to Seven Kings leasehold conveyancing

I am on look out for some leasehold conveyancing in Seven Kings. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Seven Kings - 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.

I’m about to sell my ground floor flat in Seven Kings.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

It best that you pay 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 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. This will smooth the conveyancing process.

Last month I purchased a leasehold house in Seven Kings. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Can you provide any advice for leasehold conveyancing in Seven Kings with the aim of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Seven Kings can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
  • Many freeholders or Management Companies in Seven Kings charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Seven Kings.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Seven Kings leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. If you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor first.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a replacement share certificate is often a lengthy formality and delays many a Seven Kings conveyancing transaction. If a new share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Seven Kings conveyancing firm to represent me?

    Where 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 First-tier Tribunal (Property Chamber) to calculate the premium.

    An example of a Lease Extension case for a Seven Kings flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The remaining number of years on the lease was 61.36 years.

    In relation to leasehold conveyancing in Seven Kings what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Seven Kings. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Seven Kings