Leasehold Conveyancing in Collier Row - Get a Quote from the leasehold experts approved by your lender

Get a Quote

Leasehold conveyancing in Collier Row is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Collier Row and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Collier Row leasehold conveyancing

My wife and I purchased a leasehold house in Collier Row. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Collier Row who previously acted has long since retired.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Collier Row conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Collier Row which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Collier Row. Do I have any liability for service charges for periods before my ownership?

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 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 offer any advice when it comes to choosing a Collier Row conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Collier Row conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Collier Row conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

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

    • Can you provide any top tips for leasehold conveyancing in Collier Row with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Collier Row can be bypassed if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Collier Row levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought 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 reason for frustration in leasehold conveyancing in Collier Row.
  • Some Collier Row leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a time consuming process and slows down many a Collier Row conveyancing transaction. Where a duplicate share is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Collier Row conveyancing firm to assist?

    if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to judgment on the price payable.

    An example of a Lease Extension matter before the tribunal for a Collier Row residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term was 57.5 years.