Sample questions relating to Canonbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Canonbury. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Canonbury - then the leasehold title will always include the basic details 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.
My husband and I may need to rent out our Canonbury ground floor flat for a while due to a new job. We used a Canonbury conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A lease governs relations between the landlord and you the flat owner; in particular, it will indicate 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 permitted. Most leases in Canonbury do not prevent subletting altogether – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I have recently realised that I have Seventy years unexpired on my lease in Canonbury. I need to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, 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. However, you will be required to prove that you or your lawyers have done all that could be expected to find the lessor. For most situations an enquiry agent would be useful to try and locate and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Canonbury.
Can you provide any top tips for leasehold conveyancing in Canonbury from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Canonbury can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
- Many freeholders or Management Companies in Canonbury levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Canonbury.
If all goes to plan we aim to complete our sale of a £275000 apartment in Canonbury in just under a week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Canonbury?
Canonbury conveyancing on leasehold maisonettes more often than not involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you if you want to complete the sale of your home.
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Canonbury. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension case for a Canonbury residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 80.5 years.