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Examples of recent questions relating to leasehold conveyancing in Angel

Having had my offer accepted I require leasehold conveyancing in Angel. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Angel - 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 want to let out my leasehold flat in Angel. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous Angel conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of prior consent. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I've found a house that seems to be perfect, at a reasonable figure 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 issues purchasing a house with a leasehold title in Angel. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Angel are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Angel so you should seriously consider shopping around for a Angel conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I work for a reputable estate agency in Angel where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Angel conveyancing firms. Could you confirm whether the seller of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 buyer.

Can you provide any advice for leasehold conveyancing in Angel from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Angel can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Angel leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. If you dont have the consents in place do not contact the landlord without contacting your solicitor first.
  • Some Angel leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Angel. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    You certainly can. We are happy to put you in touch with a Angel conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Angel 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 unexpired term was 98 years.