Childs Hill leasehold conveyancing: Q and A’s
Frank (my husband) and I may need to let out our Childs Hill basement flat temporarily due to taking a sabbatical. We used a Childs Hill conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Childs Hill do not contain an absolute prevention of subletting – such a provision 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 copy of the sublease.
Planning to complete next month on a studio apartment in Childs Hill. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Childs Hill should include some of the following:
- Are you allowed to have a pet in the flat?
I have just appointed agents to market my garden flat in Childs Hill.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?
It best that you pay 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. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a two apartments in Childs Hill which have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Childs Hill. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to appointing a Childs Hill conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Childs Hill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Childs Hill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- Can they put you in touch with client in Childs Hill who can give a testimonial?
We have reached the end of our tether in trying to reach an agreement for a lease extension in Childs Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the sum to be paid.
An example of a Lease Extension decision for a Childs Hill flat is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.