Fixed-fee leasehold conveyancing in Temple:

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Recently asked questions relating to Temple leasehold conveyancing

Due to complete next month on a basement flat in Temple. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Are pets allowed in the flat?
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • Whether your lease has a provision for a reserve fund?
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Temple please enquire of your solicitor in advance of your conveyancing in Temple

    • I am a negotiator for a reputable estate agent office in Temple where we have experienced a few leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Temple conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

    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.

    What are your top tips when it comes to appointing a Temple conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Temple conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Temple conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

    • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Temple who can give a testimonial?

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

    • A significant proportion of the delay in leasehold conveyancing in Temple can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers representatives.
    • The majority landlords or Management Companies in Temple levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Temple.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a Temple conveyancing transaction. If a new share certificate is required, 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 you should verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore 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.

    • If all goes to plan we aim to complete the sale of our £350000 flat in Temple next Thursday . The management company has quoted £408 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Temple?

    Temple conveyancing on leasehold flats usually necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded if you want to sell the property.

    I am the registered owner of a first floor flat in Temple. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the amount due.

    An example of a Lease Extension case for a Temple flat 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 was in relation to 1 flat. The unexpired term was 66.8 years.

    Other Topics

    Lease Extensions in Temple