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When it comes to leasehold conveyancing in Bowes Park, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, RBS or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Bowes Park leasehold conveyancing

I am intending to sublet my leasehold flat in Bowes Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your last Bowes Park conveyancing solicitor is no longer available you can check 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 need to seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.

Due to complete next month on a leasehold property in Bowes Park. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. 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
  • Whether the lease restricts you from renting out the flat, or working from home
  • 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
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be included in your report on your leasehold property in Bowes Park please ask your solicitor in advance of your conveyancing in Bowes Park

    • Do you have any advice for leasehold conveyancing in Bowes Park with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bowes Park can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • Many landlords or managing agents in Bowes Park levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. 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 common cause of frustration in leasehold conveyancing in Bowes Park.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Bowes Park state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such alterations. Should you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Bowes Park leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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.
  • If there is a history of any disputes with your landlord 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 concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £200000 apartment in Bowes Park next Wednesday . The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Bowes Park?

    Bowes Park conveyancing on leasehold apartments often requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.

    I inherited a first floor flat in Bowes Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    Most definitely. We are happy to put you in touch with a Bowes Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Bowes Park property 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 related to 1 flat. The the unexpired residue of the current lease was 81.79 years.

    What makes a Bowes Park lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Bowes Park. Most leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in Bowes Park