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Coombe Warren leasehold conveyancing Example Support Desk Enquiries

Jane (my partner) and I may need to rent out our Coombe Warren basement flat for a while due to a career opportunity. We used a Coombe Warren conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

A lease governs the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Coombe Warren do not prevent an absolute prevention of subletting – such a provision 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 sublease.

Estate agents have just been given the go-ahead to market my basement flat in Coombe Warren.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?

It best that you 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.

I am attracted to a two maisonettes in Coombe Warren which have approximately 50 years left on the leases. Will this present a problem?

There are plenty of short leases in Coombe Warren. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Coombe Warren from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Coombe Warren can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or managing agents in Coombe Warren levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Coombe Warren.
  • A minority of Coombe Warren 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 obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Organising a re-issued share certificate can be a time consuming formality and slows down many a Coombe Warren conveyancing transaction. Where a new share is needed, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • All being well we will complete the sale of our £125000 maisonette in Coombe Warren next Thursday . The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Coombe Warren?

    Coombe Warren conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to sell the property.

    Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Coombe Warren. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.

    An example of a Freehold Enfranchisement matter before the tribunal for a Coombe Warren property is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The remaining number of years on the lease was 98 years.

    Other Topics

    Lease Extensions in Coombe Warren