Common questions relating to St Pancras leasehold conveyancing
I have just started marketing my garden apartment in St Pancras.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge 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 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 be perfect, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in St Pancras. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in St Pancras ?
The majority of houses in St Pancras are freehold rather than 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 purchasing in St Pancras so you should seriously consider looking for a St Pancras conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
Back In 2009, I bought a leasehold house in St Pancras. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in St Pancras who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to instruct a St Pancras 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 rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in St Pancras with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in St Pancras can be avoided if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers lawyers.
- Many freeholders or Management Companies in St Pancras levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought 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 usual reason for frustration in leasehold conveyancing in St Pancras.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325000 maisonette in St Pancras in just under a week. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in St Pancras?
St Pancras conveyancing on leasehold apartments nine out of ten times results in administration charges invoiced by freeholders :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in St Pancras
- 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 have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a St Pancras conveyancing firm to assist?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the amount due.
An example of a Lease Extension matter before the tribunal for a St Pancras residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.