Fixed-fee leasehold conveyancing in Turnpike Lane:

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Top Five Questions relating to Turnpike Lane leasehold conveyancing

I am hoping to sign contracts shortly on a basement flat in Turnpike Lane. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Turnpike Lane should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The total extent of the property. This will be the property itself but might incorporate a loft or basement if applicable.
  • Setting out your rights in relation to the communal areas in the block.For instance, does the lease permit a right of way over an accessway or hallways?
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • 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 property and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Turnpike Lane please ask your lawyer in ahead of your conveyancing in Turnpike Lane

    • My wife and I purchased a leasehold flat in Turnpike Lane. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter 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 1991. The conveyancing practitioner in Turnpike Lane who previously acted has now retired.What should I do?

    First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Turnpike Lane conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    What are your top tips when it comes to choosing a Turnpike Lane conveyancing firm to deal with our lease extension?

    When appointing a solicitor for lease extension works (regardless if they are a Turnpike Lane conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Turnpike Lane conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Turnpike Lane who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Turnpike Lane with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Turnpike Lane can be bypassed where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
    • A minority of Turnpike Lane leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay 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 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 clearly preferable to present the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Arranging a duplicate share certificate can be a time consuming formality and slows down many a Turnpike Lane conveyancing transaction. If a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore important 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 premises on the market for sale.

    • Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Turnpike Lane. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a absentee freeholder or if 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 decide the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a Turnpike Lane property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 81.79 years.

    In relation to leasehold conveyancing in Turnpike Lane what are the most common lease defects?

    Leasehold conveyancing in Turnpike Lane is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.