Examples of recent questions relating to leasehold conveyancing in Alperton
I would like to rent out my leasehold flat in Alperton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease dictates the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Alperton do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I only have Sixty One years remaining on my flat in Alperton. I need to get lease extension but my freeholder is absent. What should I do?
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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to locate the freeholder. For most situations a specialist should be useful to carry out a search and prepare an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Alperton.
I work for a reputable estate agency in Alperton where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Alperton conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 purchaser.
What are your top tips when it comes to appointing a Alperton conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Alperton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Alperton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
I inherited a garden flat in Alperton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension case for a Alperton premises is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case related to 1 flat. The unexpired term was 28.42 years.
What makes a Alperton lease unmortgageable?
There is nothing unique about leasehold conveyancing in Alperton. All leases is drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- 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 could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Mortgage Works, and Bank of Ireland all have very detailed requirements 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 provide security, obliging the buyer to pull out.