Recently asked questions relating to Colindale leasehold conveyancing
Helen (my wife) and I may need to sub-let our Colindale 1st floor flat temporarily due to a new job. We instructed a Colindale conveyancing firm in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Colindale do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review 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 am hoping to complete next month on a basement flat in Colindale. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Colindale should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease include a right of way over an accessway or staircase?
- You need to be told what constitutes a Nuisance in the lease
- Whether your lease has a provision for a reserve fund?
- Repair and maintenance of the flat
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Colindale. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Colindale ?
Most houses in Colindale are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Colindale so you should seriously consider shopping around for a Colindale conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will appraise you on the various issues.
I've recently bought a leasehold property in Colindale. Do I have any liability for service charges for periods before completion of my purchase?
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. It is an essential part 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).
What are your top tips when it comes to choosing a Colindale conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Colindale conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Colindale 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 useful:
- How many lease extensions have they conducted in Colindale in the last year?
- Can they put you in touch with client in Colindale who can give a testimonial?
I own a two-bedroom flat in Colindale. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
You certainly can. We can put you in touch with a Colindale conveyancing firm who can help.
An example of a Lease Extension case for a Colindale flat is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 70.25 years.
I inherited a 1st floor flat in Colindale, conveyancing was carried out in 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Colindale with a long lease are worth £205,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2088
With just 62 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.