Fixed-fee leasehold conveyancing in New Invention:

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in New Invention, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to New Invention leasehold conveyancing

Due to complete next month on a leasehold property in New Invention. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in New Invention should include some of the following:

  • Setting out your legal entitlements in relation to the communal areas in the building.By way of example, does the lease contain a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in New Invention please ask your conveyancer in advance of your conveyancing in New Invention

    • I own a leasehold flat in New Invention. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in New Invention who acted for me is not around.Any advice?

    The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a New Invention conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold property in New Invention. Am I liable to pay service charges for periods before my ownership?

    In a situation 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. 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).

    I am employed by a busy estate agent office in New Invention where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local New Invention conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Do you have any advice for leasehold conveyancing in New Invention with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in New Invention can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
    • Many landlords or Management Companies in New Invention levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in New Invention.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in New Invention state that internal structural changes or addition of wooden flooring require a licence from the Landlord approving such alterations. If you dont have the paperwork in place you should not contact the landlord without contacting your lawyer in the first instance.
  • Some New Invention leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate is often a time consuming formality and delays many a New Invention home move. If a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.

    • New Invention Conveyancing for Leasehold Flats - Sample of Queries before buying

      You will want to discover as much as possible about the managing agents as they will either make your living at the property much simpler or uncomfortable. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily issues such as the upkeep of the common parts. Ask other people if they are happy with them. Finally, find out the dates that the service fees are due to the relevant party and specifically what you get for your money. Are any of leasehold owners in dispute over their service charge liability? This information is useful as a) areas could cause problems for the block as the communal areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the running of the building you will want to know about it

    Other Topics

    Lease Extensions in New Invention