Leasehold Conveyancing in Turnpike Lane - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Turnpike Lane leasehold conveyancing

I have just started marketing my basement apartment in Turnpike Lane.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

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 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've recently bought a leasehold property in Turnpike Lane. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 be sure 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 work for a busy estate agency in Turnpike Lane where we have experienced a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Turnpike Lane conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease 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. The benefit of this is 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 prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Turnpike Lane conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Turnpike Lane conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Turnpike Lane conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

  • If they are not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Turnpike Lane with the aim of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Turnpike Lane can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers representatives.
    • Many landlords or Management Companies in Turnpike Lane levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Turnpike Lane.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Turnpike Lane leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Where you dont have the paperwork in place you should not communicate with the landlord without checking with your solicitor in advance.
  • A minority of Turnpike Lane leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a replacement share certificate can be a lengthy process and delays many a Turnpike Lane conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Turnpike Lane. Can we issue an application to the Residential Property Tribunal Service?

    You certainly can. We can put you in touch with a Turnpike Lane conveyancing firm who can help.

    An example of a Lease Extension case for a Turnpike Lane flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The unexpired lease term was 81.79 years.