Fixed-fee leasehold conveyancing in Warfield:

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

Top Five Questions relating to Warfield leasehold conveyancing

Estate agents have just been given the go-ahead to market my basement flat in Warfield.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – Do I pay up?

It best that you discharge 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 until 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.

My wife and I purchased a leasehold house in Warfield. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Warfield who previously acted has now retired.Do I pay?

First contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Warfield conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold flat in Warfield. Am I liable to pay service charges for periods before 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

I work for a busy estate agent office in Warfield where we have experienced a number of flat sales put at risk due to short leases. I have received conflicting advice from local Warfield conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension process 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

What advice can you give us when it comes to appointing a Warfield conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Warfield conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Warfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Warfield who can give a testimonial?

  • I am the registered owner of a split level flat in Warfield, conveyancing having been completed 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Warfield with a long lease are worth £185,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2102

    With just 80 years remaining on your lease we estimate the premium for your lease extension to span between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Warfield