Sample questions relating to Shacklewell leasehold conveyancing
I have just started marketing my ground floor apartment in Shacklewell.Conveyancing has not commenced but I have just had a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay 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've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Shacklewell. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Shacklewell ?
Most houses in Shacklewell are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Shacklewell in which case you should be shopping around for a Shacklewell conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
I am a negotiator for a long established estate agency in Shacklewell where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Shacklewell conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
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.
What advice can you give us when it comes to choosing a Shacklewell conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Shacklewell conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Shacklewell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Shacklewell from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Shacklewell can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Shacklewell leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you dont have the consents to hand you should not communicate with the landlord without contacting your conveyancer in advance.
I am the registered owner of a a ground floor purpose built flat in Shacklewell. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension matter before the tribunal for a Shacklewell property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The remaining number of years on the lease was 80.5 years.