Sample questions relating to Belsize Park leasehold conveyancing
I am intending to let out my leasehold flat in Belsize Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Belsize Park conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party before subletting. The net result is you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Belsize Park. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Belsize Park ?
Most houses in Belsize Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Belsize Park in which case you should be shopping around for a Belsize Park conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I work for a busy estate agency in Belsize Park where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Belsize Park conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease 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 buyer can avoid having to sit tight for 2 years to extend their lease. 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 sale.
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 offer any advice when it comes to appointing a Belsize Park conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Belsize Park conveyancing practice) it is imperative that he or she should 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 Belsize Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How many lease extensions have they conducted in Belsize Park in the last year?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425000 garden flat in Belsize Park in seven days. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Belsize Park?
Belsize Park conveyancing on leasehold flats usually necessitates fees being levied by management companies :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Belsize Park
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a ground-floor 1960’s flat in Belsize Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the sum to be paid.
An example of a Lease Extension decision for a Belsize Park property is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case was in relation to 2 flats. The unexpired lease term was 16.83 and 16.43.
Other Topics