Examples of recent questions relating to leasehold conveyancing in Colney Hatch
My husband and I may need to rent out our Colney Hatch 1st floor flat temporarily due to a new job. We instructed a Colney Hatch conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Even though your last Colney Hatch conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission from your landlord or other appropriate person prior to subletting. This means that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my garden apartment in Colney Hatch.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you pay the invoice 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold flat in Colney Hatch. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
I am employed by a reputable estate agent office in Colney Hatch where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Colney Hatch conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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 purchaser.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Colney Hatch conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Colney Hatch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Colney Hatch residence is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case affected 2 flats. The unexpired lease term was 68 years.
Are there frequently found defects that you encounter in leases for Colney Hatch properties?
Leasehold conveyancing in Colney Hatch is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.