Common questions relating to Upton Park leasehold conveyancing
Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Upton Park. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases a specialist would be helpful to carry out a search and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Upton Park.
I've recently bought a leasehold flat in Upton Park. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you offer any advice when it comes to choosing a Upton Park conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Upton Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Upton Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
If all goes to plan we aim to complete the disposal of our £300000 maisonette in Upton Park next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Upton Park?
Upton Park conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
We have reached the end of our tether in trying to purchase the freehold in Upton Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Upton Park conveyancing firm who can help.
An example of a Lease Extension decision for a Upton Park flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.
What makes a Upton Park lease unacceptable for security purposes?
Leasehold conveyancing in Upton Park is not unique. All leases are individual and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.