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

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in The Park, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to The Park leasehold conveyancing

I am in need of some leasehold conveyancing in The Park. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in The Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in The Park. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in The Park ?

Most houses in The Park are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in The Park in which case you should be shopping around for a The Park conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.

Last month I purchased a leasehold property in The Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element 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).

Can you provide any advice for leasehold conveyancing in The Park with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in The Park can be bypassed where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
  • The majority landlords or managing agents in The Park charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought 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 usual cause of delay in leasehold conveyancing in The Park.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? The Park leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place do not contact the landlord without contacting your solicitor before hand.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a re-issued share certificate is often a lengthy process and slows down many a The Park home move. Where a reissued share 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 left on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Completion in due on the sale of our £500000 garden flat in The Park in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in The Park?

    The Park conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. 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 invoiced 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. In reality you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in The Park - Sample of Queries Prior to buying

      Are any of leasehold owners in arrears of their service charge liability? This question is helpful as a) areas can cause problems for the block as the communal areas may begin to deteriorate where repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to have all the details Best to be warned whether redecorating or some other significant cost is anticipated that will be shared between the tenants and could well materially impact the level of the service charges or necessitate a specific payment.

    Other Topics

    Lease Extensions in The Park