Sample questions relating to Bowes Park leasehold conveyancing
Helen (my wife) and I may need to sub-let our Bowes Park 1st floor flat temporarily due to a new job. We instructed a Bowes Park conveyancing firm in 2003 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Bowes Park conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must obtain permission via your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Expecting to complete next month on a garden flat in Bowes Park. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Bowes Park should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- What you can do if a neighbour breach a clause of their lease?
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 just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bowes Park. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Bowes Park are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Bowes Park in which case you should be looking for a Bowes Park conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
Back In 2004, I bought a leasehold house in Bowes Park. Conveyancing and Santander mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bowes Park who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Bowes Park conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any advice for leasehold conveyancing in Bowes Park with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bowes Park can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or managing agents in Bowes Park levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Bowes Park.
- If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
- If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Organising a replacement share certificate is often a time consuming formality and delays many a Bowes Park conveyancing transaction. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
- You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I am the proprietor of a basement flat in Bowes Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Bowes Park conveyancing firm who can help.
An example of a Lease Extension decision for a Bowes Park premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the unexpired residue of the current lease was 81.79 years.
I bought a studio flat in Bowes Park, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Bowes Park with a long lease are worth £187,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2077
You have 51 years unexpired the likely cost is going to span between £33,300 and £38,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you 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.