Upper Clapton leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Upper Clapton. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Upper Clapton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Looking forward to exchange soon on a garden flat in Upper Clapton. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Upper Clapton should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I have just appointed agents to market my ground floor apartment in Upper Clapton.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay 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 work for a busy estate agency in Upper Clapton where we have experienced a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Upper Clapton conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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.
Completion in due on our sale of a £450000 garden flat in Upper Clapton in 8 days. The management company has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Upper Clapton?
Upper Clapton conveyancing on leasehold flats normally involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £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, otherwise the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Upper Clapton conveyancing firm to help?
Most certainly. We can put you in touch with a Upper Clapton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Upper Clapton residence is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case affected 1 flat. The unexpired term was 59 years.
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