Guaranteed fixed fees for Leasehold Conveyancing in South Ruislip

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When it comes to leasehold conveyancing in South Ruislip, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, RBS or NatWest be sure to choose a lawyer on their panel. Find a South Ruislip conveyancing lawyer with our search tool

South Ruislip leasehold conveyancing: Q and A’s

I am looking at a couple of flats in South Ruislip both have approximately 50 years left on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold house in South Ruislip. Do I have any liability for service charges for periods before 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).

I am employed by a long established estate agency in South Ruislip where we see a number of leasehold sales derailed due to short leases. I have received contradictory information from local South Ruislip conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

Can you provide any advice for leasehold conveyancing in South Ruislip with the aim of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in South Ruislip can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
  • Many landlords or managing agents in South Ruislip levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in South Ruislip.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? South Ruislip leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. If you dont have the approvals in place you should not communicate with the landlord without checking with your conveyancer first.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a duplicate share certificate is often a time consuming formality and slows down many a South Ruislip home move. Where a duplicate share is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in South Ruislip. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We are happy to put you in touch with a South Ruislip conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a South Ruislip flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The unexpired lease term was 53.26 years.

    What makes a South Ruislip lease defective?

    There is nothing unique about leasehold conveyancing in South Ruislip. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in South Ruislip