Examples of recent questions relating to leasehold conveyancing in High Holborn
I have recently realised that I have Fifty years unexpired on my flat in High Holborn. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing High Holborn.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in High Holborn. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in High Holborn ?
The majority of houses in High Holborn are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in High Holborn so you should seriously consider shopping around for a High Holborn conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.
I am employed by a busy estate agent office in High Holborn where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local High Holborn conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner 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 proposed purchaser can avoid having to wait 2 years to extend their lease. 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.
An alternative approach is 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 buyer.
If all goes to plan we aim to complete the sale of our £275000 flat in High Holborn next Monday . The freeholder has quoted £420 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 leasehold conveyance in High Holborn?
High Holborn conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to sell the property.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in High Holborn. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price payable.
An example of a Lease Extension matter before the tribunal for a High Holborn premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 66.8 years.
When it comes to leasehold conveyancing in High Holborn what are the most common lease problems?
There is nothing unique about leasehold conveyancing in High Holborn. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- 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
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed 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 purchaser to withdraw.
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