Top Five Questions relating to Welling leasehold conveyancing
Estate agents have just been given the go-ahead to market my basement apartment in Welling.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?
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 unless 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold flat in Welling. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Welling who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Welling conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Welling from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Welling can be avoided where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Welling state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such works. If you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in the first instance.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 apartment in Welling in just under a week. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Welling?
Welling conveyancing on leasehold maisonettes typically involves fees being invoiced by freeholders :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Welling
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Welling conveyancing firm to act on my behalf?
Where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension matter before the tribunal for a Welling residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.
What makes a Welling lease unacceptable for security purposes?
Leasehold conveyancing in Welling is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Chelsea Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.