Examples of recent questions relating to leasehold conveyancing in Blackfriars
There are only 68 years unexpired on my flat in Blackfriars. I now want to extend my lease but my freeholder is absent. 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 enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Blackfriars.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Blackfriars. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Blackfriars are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Blackfriars in which case you should be shopping around for a Blackfriars conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.
I've recently bought a leasehold house in Blackfriars. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, 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).
I work for a busy estate agent office in Blackfriars where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Blackfriars conveyancing firms. Can you shed some light as to whether the seller of a flat can start 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 before, or simultaneously with completion of the sale.
Alternatively, it may be possible 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £225000 maisonette in Blackfriars next Thursday . The freeholder has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Blackfriars?
For the majority of leasehold sales in Blackfriars conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange questions
- Where consent is required before sale in Blackfriars
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a basement flat in Blackfriars. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Most certainly. We are happy to put you in touch with a Blackfriars conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Blackfriars flat 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 residue of the current lease was 66.8 years.