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Leasehold conveyancing in Fairlop is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Fairlop and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Fairlop leasehold conveyancing

Frank (my husband) and I may need to let out our Fairlop basement flat for a while due to a career opportunity. We used a Fairlop conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your previous Fairlop conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek permission from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I have just started marketing my ground floor flat in Fairlop.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Fairlop. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Fairlop ?

The majority of houses in Fairlop are freehold rather than 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 purchasing in Fairlop in which case you should be shopping around for a Fairlop conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

Do you have any advice for leasehold conveyancing in Fairlop with the intention of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Fairlop can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
  • The majority freeholders or Management Companies in Fairlop levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Fairlop.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Fairlop state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you fail to have the consents in place do not contact the landlord without contacting your solicitor before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate is often a time consuming formality and delays many a Fairlop home move. If a new share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I am the proprietor of a garden flat in Fairlop. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    if there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price payable.

    An example of a Lease Extension decision for a Fairlop property is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 60.29 years.

    What makes a Fairlop lease defective?

    There is nothing unique about leasehold conveyancing in Fairlop. Most leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Fairlop