Experts for Leasehold Conveyancing in Upney

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Questions and Answers: Upney leasehold conveyancing

I only have 62 years unexpired on my lease in Upney. I am keen to extend my lease but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations an enquiry agent should be helpful to conduct investigations and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court overseeing Upney.

Looking forward to sign contracts shortly on a basement flat in Upney. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Upney should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • You need to be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be included in your report on your leasehold property in Upney please enquire of your solicitor in advance of your conveyancing in Upney

    • I have just started marketing my basement apartment in Upney.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

    Last month I purchased a leasehold property in Upney. Do I have any liability for service charges for periods before completion of my purchase?

    In a situation 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. Strange as it may seem, 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 Upney with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Upney can be avoided if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
    • Many landlords or Management Companies in Upney levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Upney.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Upney leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you fail to have the consents in place you should not contact the landlord without checking with your conveyancer first.
  • Some Upney leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their lawyers.
  • 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 be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an as soon as possible 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.

    • I have tried to negotiate informally with with my landlord for a lease extension without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Upney conveyancing firm to help?

    You certainly can. We are happy to put you in touch with a Upney conveyancing firm who can help.

    An example of a Lease Extension decision for a Upney premises 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 affected 1 flat. The unexpired term was 61.36 years.

    Other Topics

    Lease Extensions in Upney