Common questions relating to Southall leasehold conveyancing
Estate agents have just been given the go-ahead to market my ground floor flat in Southall.Conveyancing lawyers have not yet been instructed 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Southall. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Southall ?
Most houses in Southall are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Southall so you should seriously consider looking for a Southall conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
Back In 2009, I bought a leasehold house in Southall. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Southall who acted for me is not around.What should I do?
First contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to instruct a Southall conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to appointing a Southall conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Southall conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Southall conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
- What are the legal fees for lease extension conveyancing?
Do you have any advice for leasehold conveyancing in Southall from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Southall can be avoided where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
- The majority freeholders or managing agents in Southall charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Southall.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Southall state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the paperwork to hand you should not contact the landlord without checking with your solicitor before hand.
- If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Arranging a duplicate share certificate can be a lengthy process and slows down many a Southall conveyancing transaction. If a reissued share certificate is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
- You believe that you know the number of years left on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease 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 seeking a lease extension in Southall. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee 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 assess the sum to be paid.
An example of a Lease Extension decision for a Southall premises is 33 Barbican Road in January 2013. The Tribunals calculation of the lease extension premium payable was £17,592. This case related to 1 flat. The remaining number of years on the lease was 55.12 years.
I bought a leasehold flat in Southall, conveyancing was carried out in 2007. How much will my lease extension cost? Equivalent properties in Southall with an extended lease are worth £250,000. The ground rent is £60 invoiced annually. The lease finishes on 21st October 2077
With 51 years left to run we estimate the premium for your lease extension to span between £37,100 and £42,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.