Angel leasehold conveyancing: Q and A’s
My husband and I may need to let out our Angel 1st floor flat for a while due to a career opportunity. We instructed a Angel conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Angel conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Angel. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Angel 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. it is apparent that you are buying in Angel so you should seriously consider looking for a Angel conveyancing solicitor 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 tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am employed by a reputable estate agent office in Angel where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Angel conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 offer any advice when it comes to finding a Angel conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Angel conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Angel conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- Can they put you in touch with client in Angel who can give a testimonial?
Can you provide any top tips for leasehold conveyancing in Angel with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Angel can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
- Many landlords or Management Companies in Angel levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Angel.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Angel conveyancing firm to help?
Most certainly. We are happy to put you in touch with a Angel conveyancing firm who can help.
An example of a Freehold Enfranchisement case 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 was in relation to 4 flats. The the unexpired term as at the valuation date was 98 years.