Leasehold Conveyancing in Osterley Park - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Osterley Park is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Osterley Park and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Osterley Park leasehold conveyancing

I have just started marketing my garden flat in Osterley Park.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I own a leasehold flat in Osterley Park. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Osterley Park who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Osterley Park conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to appointing a Osterley Park conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Osterley Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Osterley Park conveyancing practices prior to 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 firm with lease extension legislation?
  • Can they put you in touch with client in Osterley Park who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Osterley Park with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Osterley Park can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Some Osterley Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 solicitors.
  • If there is a history of any disputes 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 concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a time consuming process and frustrates many a Osterley Park home move. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £475000 maisonette in Osterley Park next week. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Osterley Park?

    Osterley Park conveyancing on leasehold maisonettes normally requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They may levy 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 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 entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to sell the property.

    Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Osterley Park. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Osterley Park flat is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case affected 2 flats. The unexpired lease term was 72.39 years.

    Other Topics

    Lease Extensions in Osterley Park