Whitechapel leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Whitechapel. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and most are in Whitechapel - then the leasehold title will always include the short particulars 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.
Planning to exchange soon on a basement flat in Whitechapel. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Whitechapel should include some of the following:
- You should be sent a copy of the lease
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Whitechapel. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Whitechapel are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Whitechapel in which case you should be shopping around for a Whitechapel conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
Do you have any advice for leasehold conveyancing in Whitechapel with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Whitechapel can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Whitechapel leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Where you fail to have the approvals to hand you should not contact the landlord without contacting your lawyer before hand.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 garden flat in Whitechapel in 10 days. The management company has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Whitechapel?
Whitechapel conveyancing on leasehold maisonettes more often than not requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Whitechapel conveyancing firm to act on my behalf?
Absolutely. We can put you in touch with a Whitechapel conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Whitechapel premises is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired lease term was 107 years.