Sample questions relating to Aldwych leasehold conveyancing
I am in need of some leasehold conveyancing in Aldwych. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all are in Aldwych - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to sublet my leasehold flat in Aldwych. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A lease dictates relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Aldwych do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I have just appointed agents to market my basement apartment in Aldwych.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
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 until 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. This will smooth the conveyancing process.
Completion in due on the sale of our £350000 garden flat in Aldwych in just under a week. The management company has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Aldwych?
Aldwych conveyancing on leasehold flats usually requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Aldwych conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Aldwych conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Aldwych premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired lease term was 73.26 years.
What makes a Aldwych lease defective?
Leasehold conveyancing in Aldwych is not unique. All leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Nottingham Building Society all have express 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, forcing the purchaser to withdraw.