Recently asked questions relating to Tottenham Hale leasehold conveyancing
Looking forward to complete next month on a ground floor flat in Tottenham Hale. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Tottenham Hale should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I’m about to sell my basement apartment in Tottenham Hale.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 until 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 own a leasehold flat in Tottenham Hale. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Tottenham Hale who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Tottenham Hale conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Tottenham Hale from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tottenham Hale can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
- The majority freeholders or Management Companies in Tottenham Hale levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Tottenham Hale.
All being well we will complete the disposal of our £475000 maisonette in Tottenham Hale next Monday . The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Tottenham Hale?
Tottenham Hale conveyancing on leasehold maisonettes normally involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I inherited a second floor flat in Tottenham Hale. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to decide the amount due.
An example of a Freehold Enfranchisement decision for a Tottenham Hale premises is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case affected 2 flats. The the unexpired residue of the current lease was 74.13 years.