Experts for Leasehold Conveyancing in Angel

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Frequently asked questions relating to Angel leasehold conveyancing

Planning to complete next month on a basement flat in Angel. Conveyancing solicitors have said 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 Angel should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Angel please ask your solicitor in ahead of your conveyancing in Angel

    • I have just started marketing my ground floor flat in Angel.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – Do I pay up?

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

    I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Angel. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Angel ?

    Most houses in Angel are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Angel in which case you should be looking for a Angel conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

    Last month I purchased a leasehold flat in Angel. Am I liable to pay service charges relating to a period prior to my ownership?

    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. 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 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).

    Can you provide any advice for leasehold conveyancing in Angel from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Angel can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers representatives.
    • Many freeholders or managing agents in Angel levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Angel.
  • A minority of Angel leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • We have reached the end of our tether in trying to purchase the freehold in Angel. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the premium.

    An example of a Freehold Enfranchisement matter before the tribunal for a Angel residence is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The the number of years remaining on the existing lease(s) was 98 years.