Top Five Questions relating to West Wickham leasehold conveyancing
I have just appointed agents to market my garden flat in West Wickham.Conveyancing has not commenced but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you clear 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 management companies 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.
I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in West Wickham. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in West Wickham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in West Wickham so you should seriously consider shopping around for a West Wickham conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold flat in West Wickham. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in West Wickham who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a West Wickham conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
If all goes to plan we aim to complete our sale of a £200000 apartment in West Wickham next week. The managing agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in West Wickham?
West Wickham conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in West Wickham. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Freehold Enfranchisement decision for a West Wickham property is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case related to 2 flats. The unexpired lease term was 76.75 and 88.83.
What are the frequently found deficiencies that you come across in leases for West Wickham properties?
Leasehold conveyancing in West Wickham is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- 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 encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.