Recently asked questions relating to Westcombe Park leasehold conveyancing
I am hoping to sign contracts shortly on a ground floor flat in Westcombe Park. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Westcombe Park should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
- Does the lease prevent you from letting out the flat, or having a home office for business
- Whether your lease has a provision for a reserve fund?
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- Responsibility for repairing the window frames
- What the implications are if you breach a clause of your lease?
I’m about to sell my ground floor flat in Westcombe Park.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
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 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. This will smooth the conveyancing process.
What advice can you give us when it comes to finding a Westcombe Park conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Westcombe Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Westcombe Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
- Can they put you in touch with client in Westcombe Park who can give a testimonial?
If all goes to plan we aim to complete the disposal of our £ 175000 maisonette in Westcombe Park next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Westcombe Park?
Westcombe Park conveyancing on leasehold flats nine out of ten times results in administration charges raised by landlords agents :
- Answering pre-contract questions
- Where consent is required before sale in Westcombe Park
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Westcombe Park. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Westcombe Park conveyancing firm who can help.
An example of a Lease Extension decision for a Westcombe Park premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The remaining number of years on the lease was 72 years.
Are there frequently found deficiencies that you see in leases for Westcombe Park properties?
Leasehold conveyancing in Westcombe Park is not unique. All leases is drafted differently and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- 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
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. Barclays , Coventry Building Society, and Alliance & Leicester all have express 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 pull out.
Leasehold Conveyancing in Westcombe Park - Examples of Queries Prior to buying
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For most Westcombe Park leaseholds the cost for major works are not included within service charges, albeit that there some managing agents in Westcombe Park require leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.