Fixed-fee leasehold conveyancing in Victoria Park:

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When it comes to leasehold conveyancing in Victoria Park, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or NatWest make sure you find a lawyer on their approved list. Find a Victoria Park conveyancing lawyer with our search tool

Victoria Park leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Victoria Park. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Victoria 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've recently bought a leasehold flat in Victoria 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. 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).

Can you offer any advice when it comes to finding a Victoria Park conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Victoria Park conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Victoria 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 helpful:

  • How familiar is the firm with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Victoria Park from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Victoria Park can be reduced where you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
    • Some Victoria Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Arranging a new share certificate is often a lengthy process and slows down many a Victoria Park conveyancing deal. Where a new share is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • All being well we will complete the disposal of our £375000 flat in Victoria Park on Tuesday in a week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Victoria Park?

    Victoria Park conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to do so. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.

    Leasehold Conveyancing in Victoria Park - A selection of Questions you should consider Prior to Purchasing

      This information is important as a) areas can cause problems for the building as the communal areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will wish to have all the details You will want to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Ask other tenants what they think of them. Finally, be sure you understand the dates that the service fees are due to the managing agents and specifically what it includes. Does the lease have more than 82 years left?

    Other Topics

    Lease Extensions in Victoria Park