Recently asked questions relating to Burnt Oak leasehold conveyancing
Frank (my husband) and I may need to rent out our Burnt Oak ground floor flat temporarily due to a career opportunity. We instructed a Burnt Oak conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Burnt Oak do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold 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 only have 72 years remaining on my lease in Burnt Oak. I now want to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to prove that you have made all reasonable attempts to locate the landlord. For most situations an enquiry agent would be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Burnt Oak.
Back In 2000, I bought a leasehold flat in Burnt Oak. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Burnt Oak who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Burnt Oak conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agent office in Burnt Oak where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Burnt Oak conveyancing firms. Can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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. This means that the proposed purchaser 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 prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 finding a Burnt Oak conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Burnt Oak conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Burnt Oak conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- Can they put you in touch with client in Burnt Oak who can give a testimonial?
- What are the costs for lease extension conveyancing?
I have had difficulty in trying to reach an agreement for a lease extension in Burnt Oak. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Burnt Oak conveyancing firm who can help.
An example of a Lease Extension case for a Burnt Oak flat is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The the unexpired term as at the valuation date was 71.55 years.
I purchased a studio flat in Burnt Oak, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Burnt Oak with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2081
With just 55 years remaining on your lease we estimate the price of your lease extension to be between £25,700 and £29,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.