Questions and Answers: Barbican leasehold conveyancing
My wife and I may need to let out our Barbican ground floor flat temporarily due to taking a sabbatical. We used a Barbican conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Barbican do not prevent subletting altogether – 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 tenancy agreement.
Expecting to exchange soon on a studio apartment in Barbican. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Barbican should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
Estate agents have just been given the go-ahead to market my 2 bed flat in Barbican.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – Do I pay up?
The sensible thing to do is discharge 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 unless 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.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Barbican. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Barbican are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Barbican so you should seriously consider looking for a Barbican 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 entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.
If all goes to plan we aim to complete the sale of our £400000 apartment in Barbican in 8 days. The freeholder has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Barbican?
For most leasehold sales in Barbican conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract questions
- Where consent is required before sale in Barbican
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Barbican conveyancing firm to help?
You certainly can. We can put you in touch with a Barbican conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Barbican flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The the unexpired residue of the current lease was 72.39 years.
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