Sample questions relating to Bickley leasehold conveyancing
I want to sublet my leasehold flat in Bickley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Bickley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I only have 68 years unexpired on my lease in Bickley. I need to get lease extension but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the landlord. For most situations a specialist should be useful to carry out a search and to produce a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Bickley.
I am tempted by the attractive purchase price for a two flats in Bickley both have approximately forty five years remaining on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field
I've recently bought a leasehold flat in Bickley. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any advice for leasehold conveyancing in Bickley with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bickley can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
- Many landlords or Management Companies in Bickley levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Bickley.
- If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
- If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Arranging a duplicate share certificate is often a time consuming formality and delays many a Bickley conveyancing deal. If a duplicate share is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
- You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Bickley. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the premium.
An example of a Lease Extension case for a Bickley property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired lease term was 50.57 years.
I am the registered owner of a studio flat in Bickley, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Corresponding properties in Bickley with over 90 years remaining are worth £258,000. The ground rent is £65 yearly. The lease terminates on 21st October 2097
You have 71 years remaining on your lease we estimate the price of your lease extension to range between £12,400 and £14,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.