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Common questions relating to Temple Fortune leasehold conveyancing

I am on look out for some leasehold conveyancing in Temple Fortune. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Temple Fortune - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I've recently bought a leasehold flat in Temple Fortune. 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. A critical element 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).

What are your top tips when it comes to appointing a Temple Fortune conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Temple Fortune conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Temple Fortune conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Do you have any advice for leasehold conveyancing in Temple Fortune from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Temple Fortune can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or Management Companies in Temple Fortune charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Temple Fortune.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Temple Fortune leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. If you dont have the paperwork in place you should not communicate with the landlord without checking with your solicitor in the first instance.
  • A minority of Temple Fortune leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet 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 buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.

    • Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Temple Fortune. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price payable.

    An example of a Lease Extension decision for a Temple Fortune flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired term was 76 years.

    What are the common deficiencies that you witness in leases for Temple Fortune properties?

    There is nothing unique about leasehold conveyancing in Temple Fortune. All leases are unique and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Temple Fortune