Guaranteed fixed fees for Leasehold Conveyancing in North Wembley

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When it comes to leasehold conveyancing in North Wembley, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Bradford & Bingley make sure you find a lawyer on their panel. Feel free to use our search tool

Frequently asked questions relating to North Wembley leasehold conveyancing

There are only Seventy years left on my flat in North Wembley. I now wish to get lease extension but my freeholder is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist should be useful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing North Wembley.

Last month I purchased a leasehold flat in North Wembley. Am I liable to pay 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. 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 be sure 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 top tips for leasehold conveyancing in North Wembley from the perspective of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in North Wembley can be bypassed where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
  • The majority freeholders or Management Companies in North Wembley charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in North Wembley.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a lengthy process and delays many a North Wembley home move. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 maisonette in North Wembley in just under a week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in North Wembley?

    North Wembley conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to sell the property.

    I have had difficulty in seeking a lease extension in North Wembley. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We can put you in touch with a North Wembley conveyancing firm who can help.

    An example of a Lease Extension case for a North Wembley residence is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case related to 1 flat. The unexpired term was 74 years.

    Are there frequently found defects that you witness in leases for North Wembley properties?

    There is nothing unique about leasehold conveyancing in North Wembley. All leases is drafted differently and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in North Wembley