Camberwell leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Camberwell. Before diving in I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Camberwell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to rent out my leasehold flat in Camberwell. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
The lease dictates relations between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Camberwell do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Camberwell. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Camberwell ?
The majority of houses in Camberwell are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Camberwell so you should seriously consider shopping around for a Camberwell conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
I work for a reputable estate agency in Camberwell where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Camberwell conveyancing solicitors. Could you clarify 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 has to be done before, or simultaneously with 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 buyer.
Completion in due on the sale of our £500000 apartment in Camberwell next week. The managing agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Camberwell?
Camberwell conveyancing on leasehold flats normally involves the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to complete the sale of your home.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Camberwell. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Camberwell conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Camberwell flat is 28 Valmar Road in June 2013. this was a case with an absentee freeholder. As a result the leaseholders applied to the Lambeth County Court for an order dispensing with the giving of a notice of claim. On 25 April 2013 District Judge Zimmels made a vesting order and directed that the matter should be transferred to this tribunal to determine the premium. The tribunal concluded on a figure of £1,125 This case was in relation to 3 flats. The unexpired lease term was 968 years.