Fixed-fee leasehold conveyancing in Temple:

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Frequently asked questions relating to Temple leasehold conveyancing

I am hoping to complete next month on a leasehold property in Temple. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Temple should include some of the following:

  • Defining your legal entitlements in respect of common areas in the building.E.G., does the lease permit a right of way over a path or staircase?
  • Are pets allowed in the flat?
  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be included in your report on your leasehold property in Temple please ask your solicitor in advance of your conveyancing in Temple

    • I am looking at a couple of apartments in Temple both have about 50 years unexpired on the lease term. Do I need to be concerned?

    A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

    What are your top tips when it comes to choosing a Temple conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Temple conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Temple conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How experienced is the practice with lease extension legislation?
  • What volume of lease extensions has the firm conducted in Temple in the last 12 months?

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £475000 apartment in Temple next week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Temple?

    Temple conveyancing on leasehold apartments usually requires the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    I own a a ground floor purpose built flat in Temple. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

    Most certainly. We are happy to put you in touch with a Temple conveyancing firm who can help.

    An example of a Lease Extension decision for a Temple premises 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 affected 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.

    In relation to leasehold conveyancing in Temple what are the most frequent lease problems?

    Leasehold conveyancing in Temple is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have very detailed 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 defective they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Temple