Sample questions relating to Tottenham Green leasehold conveyancing
I have just started marketing my garden flat in Tottenham Green.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 until 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've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Tottenham Green. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Tottenham Green are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Tottenham Green in which case you should be shopping around for a Tottenham Green conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I am looking at a couple of flats in Tottenham Green both have about fifty years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability 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 difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area
Last month I purchased a leasehold property in Tottenham Green. Do I have any liability for service charges for periods before completion of my purchase?
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).
Completion in due on our sale of a £200000 apartment in Tottenham Green next week. The management company has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Tottenham Green?
Tottenham Green conveyancing on leasehold flats normally results in fees being raised by managing agents :
- Addressing pre-contract enquiries
- Where consent is required before sale in Tottenham Green
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Tottenham Green. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the amount due.
An example of a Freehold Enfranchisement case for a Tottenham Green residence is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 74.13 years.