Common questions relating to Shadwell leasehold conveyancing
I am in need of some leasehold conveyancing in Shadwell. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Shadwell - 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.
Estate agents have just been given the go-ahead to market my ground floor apartment in Shadwell.Conveyancing has not commenced but I have just had a quarterly service charge demand – Do I pay up?
It best that you 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. This will smooth the conveyancing process.
I own a leasehold house in Shadwell. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Shadwell who previously acted has now retired.Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Shadwell conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any advice for leasehold conveyancing in Shadwell from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Shadwell can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers lawyers.
- The majority landlords or managing agents in Shadwell charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Shadwell.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 flat in Shadwell in 10 days. The landlords agents has quoted £360 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 Shadwell?
Shadwell conveyancing on leasehold flats normally necessitates fees being raised by landlords agents :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Shadwell
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a garden flat in Shadwell. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Absolutely. We can put you in touch with a Shadwell conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Shadwell residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The the unexpired term as at the valuation date was 101.61 years.