Frequently asked questions relating to Blackfriars leasehold conveyancing
Jane (my partner) and I may need to sub-let our Blackfriars 1st floor flat temporarily due to a new job. We used a Blackfriars conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Blackfriars conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of prior consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my ground floor apartment in Blackfriars.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – Do I pay up?
It best that you pay 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2007, I bought a leasehold house in Blackfriars. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Blackfriars who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Blackfriars conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Blackfriars conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Blackfriars conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Blackfriars conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
- Can they put you in touch with client in Blackfriars who can give a testimonial?
Can you provide any advice for leasehold conveyancing in Blackfriars from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Blackfriars can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
- The majority landlords or Management Companies in Blackfriars charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Blackfriars.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Blackfriars leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer before hand.
- Some Blackfriars leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
- You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I am the leaseholder of a second floor flat in Blackfriars. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Blackfriars property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The the unexpired term as at the valuation date was 66.8 years.
I inherited a ground floor flat in Blackfriars, conveyancing formalities finalised in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Blackfriars with an extended lease are worth £246,000. The ground rent is £55 yearly. The lease expires on 21st October 2105
With only 79 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.