Guaranteed fixed fees for Leasehold Conveyancing in Victoria Park

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Common questions relating to Victoria Park leasehold conveyancing

I am in need of some leasehold conveyancing in Victoria Park. Before diving in I require certainty 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.

I only have 68 years unexpired on my flat in Victoria Park. I am keen to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you meet the appropriate requirements, 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 Court. You will be obliged to prove that you have used your best endeavours to find the lessor. On the whole a specialist should be useful to try and locate and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Victoria Park.

I have just appointed agents to market my garden flat in Victoria Park.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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.

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

If you are instructing a solicitor for lease extension works (regardless if they are a Victoria Park conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Victoria Park conveyancing practices prior to 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?
  • What are the charges for lease extension conveyancing?

If all goes to plan we aim to complete our sale of a £ 450000 maisonette in Victoria Park next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Victoria Park?

Victoria Park conveyancing on leasehold apartments usually requires the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I am the registered owner of a ground floor flat in Victoria Park, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Victoria Park with an extended lease are worth £266,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2091

With 65 years unexpired we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.