Examples of recent questions relating to leasehold conveyancing in White City
I am in need of some leasehold conveyancing in White City. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in White City - 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.
Expecting to sign contracts shortly on a ground floor flat in White City. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in White City should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Estate agents have just been given the go-ahead to market my basement flat in White City.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – what should I do?
It best that you clear 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 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £500000 flat in White City on Friday in a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in White City?
White City conveyancing on leasehold maisonettes often involves the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I inherited a ground-floor 1950’s flat in White City. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a White City premises is 23 & 23A Collingbourne Road in June 2013. Tribunal was dealing with the assessment of the value of the freehold reversion and determination of the terms of the acquisition pursuant to an Order of District Judge Lightman dated 25 February 2013 vesting the freehold interest in the property in the applicant. The tribunal assessed the price of the freehold (to which any arrears or other sums due to the missing landlord under the leases should be added) at £81,638. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 64.5 years.
Are there frequently found problems that you see in leases for White City properties?
There is nothing unique about leasehold conveyancing in White City. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Barclays Direct 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 defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.