Frequently asked questions relating to Bulls Cross leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Bulls Cross ground floor flat temporarily due to a career opportunity. We used a Bulls Cross conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Bulls Cross do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 consent.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Bulls Cross. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Bulls Cross ?
The majority of houses in Bulls Cross are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Bulls Cross in which case you should be shopping around for a Bulls Cross conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
I work for a long established estate agent office in Bulls Cross where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Bulls Cross conveyancing solicitors. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is 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 purchaser.
What are your top tips when it comes to appointing a Bulls Cross conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Bulls Cross conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Bulls Cross conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
If all goes to plan we aim to complete the sale of our £200000 maisonette in Bulls Cross next week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bulls Cross?
Bulls Cross conveyancing on leasehold maisonettes nine out of ten times results in administration charges raised by managing agents :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Bulls Cross
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Bulls Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Bulls Cross 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 81.79 years.