Examples of recent questions relating to leasehold conveyancing in Bulls Cross
My partner and I may need to let out our Bulls Cross garden flat for a while due to a new job. We used a Bulls Cross conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. 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 cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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 permission.
There are only Seventy years remaining on my lease in Bulls Cross. I am keen to extend my lease but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent would be useful to conduct investigations and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Bulls Cross.
I have just appointed agents to market my 2 bed apartment in Bulls Cross.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear 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.
I am looking at a couple of apartments in Bulls Cross both have about 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Bulls Cross. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field
Completion in due on the disposal of our £ 375000 maisonette in Bulls Cross on Monday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bulls Cross?
Bulls Cross conveyancing on leasehold apartments usually necessitates fees being invoiced by landlords 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
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Bulls Cross conveyancing firm to act on my behalf?
in cases where there is a absentee freeholder or if 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 Leasehold Valuation Tribunal to judgment on the amount due.
An example of a Lease Extension decision for a Bulls Cross residence 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 remaining number of years on the lease was 81.79 years.
I acquired a leasehold flat in Bulls Cross, conveyancing having been completed 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Bulls Cross with a long lease are worth £246,000. The ground rent is £65 invoiced annually. The lease terminates on 21st October 2092
With just 66 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" 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 without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.