I have just appointed agents to market my ground floor apartment in Somerstown.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – what should I do?

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. Having a clear account will assist your cause and will leave you no worse off financially.

I've recently bought a leasehold property in Somerstown. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 offer any advice when it comes to choosing a Somerstown conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Somerstown conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Somerstown conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How many lease extensions have they conducted in Somerstown in the last twenty four months?

What are the legal fees for lease extension work?

Do you have any advice for leasehold conveyancing in Somerstown with the purpose of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Somerstown can be reduced if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
• The majority freeholders or managing agents in Somerstown charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for 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 frequent cause of delay in leasehold conveyancing in Somerstown.

Some Somerstown leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.

If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a new share certificate can be a lengthy formality and delays many a Somerstown conveyancing transaction. If a new share is necessary, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on our sale of a £325000 apartment in Somerstown on Thursday in a week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Somerstown?

Somerstown conveyancing on leasehold apartments normally necessitates fees being raised by landlords agents :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Somerstown
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Somerstown leasehold property is £350. For Somerstown conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

I am the registered owner of a second floor flat in Somerstown. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

Absolutely. We can put you in touch with a Somerstown conveyancing firm who can help.

An example of a Lease Extension case for a Somerstown premises is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case affected 1 flat. The unexpired term was 62.79 years.