Common questions relating to Willesden leasehold conveyancing
Planning to sign contracts shortly on a studio apartment in Willesden. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Willesden should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
Back In 2008, I bought a leasehold house in Willesden. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Willesden who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Willesden conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Willesden. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to choosing a Willesden conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Willesden conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Willesden conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
If all goes to plan we aim to complete the sale of our £425000 apartment in Willesden in 10 days. The management company has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Willesden?
Willesden conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to sell the property.
I own a two-bedroom flat in Willesden. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
if there is a missing freeholder or where 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 First-tier Tribunal (Property Chamber) to arrive at the price.
An example of a lease Extension matter before the tribunal for a Willesden residence is First Floor Flat 47 Huddlestone Road in December 2010. the Tribunal a valuation of £13,000 for a lease extension having been asked to consider the premium following a vesting order being granted by Willesden County Court On 14th September 2009 This case related to 1 flat. The unexpired lease term was 71.87 years.