Sample questions relating to Cheam leasehold conveyancing
My partner and I may need to rent out our Cheam 1st floor flat for a while due to a new job. We instructed a Cheam conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates relations between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Cheam do not contain subletting altogether – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I've recently bought a leasehold house in Cheam. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to choosing a Cheam conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Cheam conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cheam conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How many lease extensions have they completed in Cheam in the last twenty four months?
All being well we will complete the disposal of our £125000 garden flat in Cheam next week. The landlords agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cheam?
Cheam conveyancing on leasehold apartments often involves the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are entitled charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Cheam conveyancing firm to act on my behalf?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Lease Extension decision for a Cheam premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The the number of years remaining on the existing lease(s) was 60.43 years.
When it comes to leasehold conveyancing in Cheam what are the most common lease defects?
Leasehold conveyancing in Cheam is not unique. All leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.