Guaranteed fixed fees for Leasehold Conveyancing in Molesey

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Recently asked questions relating to Molesey leasehold conveyancing

I am in need of some leasehold conveyancing in Molesey. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Molesey - 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.

I am looking at a two apartments in Molesey which have approximately fifty years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Molesey. The lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold property in Molesey. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

Do you have any advice for leasehold conveyancing in Molesey with the purpose of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Molesey can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
  • The majority landlords or managing agents in Molesey levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Molesey.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Molesey leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the consents to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • Some Molesey leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • We expect to complete the sale of our £325000 flat in Molesey next Thursday . The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Molesey?

    Molesey conveyancing on leasehold maisonettes more often than not involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Molesey. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We can put you in touch with a Molesey conveyancing firm who can help.

    An example of a Lease Extension case for a Molesey flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.

    Other Topics

    Lease Extensions in Molesey