Frequently asked questions relating to Battersea leasehold conveyancing
My wife and I may need to let out our Battersea basement flat for a while due to taking a sabbatical. We instructed a Battersea conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Battersea conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I own a leasehold flat in Battersea. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Battersea who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Battersea conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two apartments in Battersea both have about 50 years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Battersea is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Battersea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
What advice can you give us when it comes to finding a Battersea conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Battersea conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Battersea 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 Battersea who can give a testimonial?
We expect to complete our sale of a £350000 flat in Battersea next week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Battersea?
Battersea conveyancing on leasehold maisonettes nine out of ten times results in administration charges invoiced by management companies :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Battersea
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Battersea. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Battersea conveyancing firm who can help.
An example of a Lease Extension decision for a Battersea premises is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case affected 1 flat. The the unexpired term as at the valuation date was 57.06 years.