Thames View leasehold conveyancing Example Support Desk Enquiries
I have just started marketing my ground floor flat in Thames View.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?
It best that you clear the invoice 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 unless 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 am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Thames View. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Thames View are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Thames View in which case you should be shopping around for a Thames View conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
I am a negotiator for a long established estate agent office in Thames View where we see a number of leasehold sales put at risk as a result of short leases. I have received inconsistent advice from local Thames View conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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 disposal of the property.
An alternative approach is 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 buyer.
Completion in due on the disposal of our £125000 flat in Thames View next Wednesday . The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Thames View?
Thames View conveyancing on leasehold flats often necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Thames View. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Thames View conveyancing firm who can help.
An example of a Lease Extension case for a Thames View flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired lease term was 61.36 years.
In relation to leasehold conveyancing in Thames View what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Thames View. Most leases are unique and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.