City Of London leasehold conveyancing Example Support Desk Enquiries
I want to sublet my leasehold apartment in City Of London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease governs the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in City Of London do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in City Of London. I now want to get lease extension but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases a specialist would be helpful to carry out a search and to produce a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court covering City Of London.
I have just started marketing my ground floor flat in City Of London.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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.
Last month I purchased a leasehold house in City Of London. Do I have any liability for 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. Strange as it may seem, 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 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).
Completion in due on the sale of our £375000 flat in City Of London on Monday in a week. The management company has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in City Of London?
City Of London conveyancing on leasehold apartments more often than not requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to complete the sale of your home.
I am the registered owner of a basement flat in City Of London, conveyancing formalities finalised 1995. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in City Of London with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2100
With only 78 years left to run the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.