Examples of recent questions relating to leasehold conveyancing in Becontree Heath
I am intending to rent out my leasehold flat in Becontree Heath. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your last Becontree Heath conveyancing solicitor is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you must obtain consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I work for a reputable estate agent office in Becontree Heath where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Becontree Heath conveyancing firms. Please can you confirm whether the vendor 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. This means that the buyer need not have 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 before, or at the same time as completion of the disposal of the property.
An alternative approach is 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.
What advice can you give us when it comes to finding a Becontree Heath conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Becontree Heath conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Becontree Heath conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Becontree Heath with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Becontree Heath can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
- Many freeholders or managing agents in Becontree Heath levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Becontree Heath.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Becontree Heath. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the amount due.
An example of a Lease Extension matter before the tribunal for a Becontree Heath premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 61.36 years.
What makes a Becontree Heath lease defective?
There is nothing unique about leasehold conveyancing in Becontree Heath. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.