City Of London leasehold conveyancing Example Support Desk Enquiries
I wish to rent out my leasehold flat in City Of London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in City Of London do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have recently realised that I have Fifty years unexpired on my lease in City Of London. I now want to get lease extension but my freeholder is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. In some cases a specialist would be useful to carry out a search and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing City Of London.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in City Of London. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in City Of London are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in City Of London in which case you should be shopping around for a City Of London conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
I am employed by a busy estate agency in City Of London where we have experienced a number of flat sales derailed as a result of short leases. I have been given contradictory information from local City Of London conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
We expect to complete our sale of a £175000 apartment in City Of London next Tuesday . The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in City Of London?
City Of London conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
City Of London Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
How much is the annual service fee and ground rent?
It would be prudent to find out as much as you can regarding the company managing the building as they will either make your life much easier or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. You should not be shy to ask other people what they think of them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money.
Who is in charge of the building?