Leasehold Conveyancing in West Smithfield - Get a Quote from the leasehold experts approved by your lender

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

Examples of recent questions relating to leasehold conveyancing in West Smithfield

Looking forward to complete next month on a studio apartment in West Smithfield. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

  • How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the property itself but could also incorporate a loft or basement if applicable.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are pets allowed in the flat?
  • You must be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in West Smithfield please ask your solicitor in ahead of your conveyancing in West Smithfield

  • Back In 2008, I bought a leasehold house in West Smithfield. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in West Smithfield who previously acted has long since retired.What should I do?

    The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a West Smithfield conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am tempted by the attractive purchase price for a two apartments in West Smithfield which have about 50 years remaining on the leases. should I be concerned?

    A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

    Do you have any advice for leasehold conveyancing in West Smithfield from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in West Smithfield can be bypassed where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers solicitors.
    • The majority landlords or Management Companies in West Smithfield levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in West Smithfield.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? West Smithfield leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer before hand.
  • A minority of West Smithfield leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain 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.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Arranging a new share certificate is often a time consuming process and slows down many a West Smithfield conveyancing deal. Where a new share certificate is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

  • All being well we will complete our sale of a £450000 maisonette in West Smithfield in 10 days. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in West Smithfield?

    For the majority of leasehold sales in West Smithfield conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing pre-contract enquiries
    • Where consent is required before sale in West Smithfield
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for West Smithfield leasehold property is £350. For West Smithfield conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

    I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a West Smithfield conveyancing firm to assist?

    if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.

    An example of a Lease Extension case for a West Smithfield flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term was 66.8 years.

    Other Topics

    Lease Extensions in West Smithfield