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

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Victoria Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Victoria Park leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Victoria Park. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all 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.

Due to sign contracts shortly on a basement flat in Victoria Park. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

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

  • Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease include a right of way over an accessway or hallways?
  • Whether the lease restricts you from renting out the flat, or having a home office for business
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Victoria Park please ask your conveyancer in ahead of your conveyancing in Victoria Park

    • I am employed by a busy estate agent office in Victoria Park where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Victoria Park conveyancing solicitors. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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.

    What are your top tips when it comes to finding a Victoria Park conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Victoria Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Victoria Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the practice with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • We expect to complete the sale of our £475000 flat in Victoria Park in just under a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Victoria Park?

    Victoria Park conveyancing on leasehold maisonettes often necessitates the purchaser’s lawyer submitting questions 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 are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.

    Victoria Park Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

      Are any of leasehold owners in arrears of their service charge liability? Does the lease include onerous restrictions? Is anyone aware of any major works on the horizon that could add a premium to the maintenance costs?

    Other Topics

    Lease Extensions in Victoria Park