Fixed-fee leasehold conveyancing in Langley:

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Langley, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Langley leasehold conveyancing

I am looking at a two flats in Langley both have about fifty years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Langley is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Langley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Last month I purchased a leasehold property in Langley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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 choosing a Langley conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Langley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Langley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Langley from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Langley can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Langley levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Langley.
  • Some Langley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy formality and delays many a Langley home move. Where a reissued share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the disposal of our £400000 garden flat in Langley in 10 days. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Langley?

    Langley conveyancing on leasehold flats more often than not necessitates the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    I have had difficulty in negotiating a lease extension in Langley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We can put you in touch with a Langley conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Langley premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term was 69 years.

    Other Topics

    Lease Extensions in Langley