Common questions relating to Slade Green leasehold conveyancing
I have just appointed agents to market my garden apartment in Slade Green.Conveyancing has not commenced 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 management companies will not acknowledge the buyer until 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Slade Green. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Slade Green ?
The majority of houses in Slade Green 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. We note that you are purchasing in Slade Green in which case you should be shopping around for a Slade Green conveyancing solicitor and check that they are used to advising 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 with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
Back In 2007, I bought a leasehold house in Slade Green. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Slade Green who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Slade Green conveyancing practitioner to do this as it can be done on-line for a few pound. 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.
Last month I purchased a leasehold property in Slade Green. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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. It is an essential part 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).
Do you have any advice for leasehold conveyancing in Slade Green with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Slade Green can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
- The majority landlords or Management Companies in Slade Green levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Slade Green.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Slade Green state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor before hand.
- If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate is often a lengthy formality and frustrates many a Slade Green home move. Where a new share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
- You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Slade Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Lease Extension matter before the tribunal for a Slade Green flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term was 76 years.
Slade Green Leasehold Conveyancing - Examples of Queries before Purchasing
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The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.