Recently asked questions relating to Plaistow leasehold conveyancing
I have just appointed agents to market my ground floor flat in Plaistow.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is 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've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Plaistow. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Plaistow ?
Most houses in Plaistow are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Plaistow so you should seriously consider shopping around for a Plaistow conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Plaistow. Conveyancing and Virgin Money mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Plaistow who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Plaistow conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a long established estate agency in Plaistow where we have witnessed a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Plaistow conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
All being well we will complete the disposal of our £325000 apartment in Plaistow in six days. The management company has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Plaistow?
Plaistow conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty levy a reasonable charge 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 situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Plaistow conveyancing firm to represent me?
Where there is a missing landlord or where there is dispute 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 Plaistow flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.