Coulsdon leasehold conveyancing: Q and A’s
I would like to rent out my leasehold apartment in Coulsdon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Coulsdon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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 permission.
I only have Sixty One years left on my lease in Coulsdon. I now wish to extend my lease but my landlord is absent. What options are available to me?
On the basis that 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations a specialist should be useful to try and locate and to produce an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Coulsdon.
Back In 2001, I bought a leasehold flat in Coulsdon. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Coulsdon who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Coulsdon conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a busy estate agency in Coulsdon where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Coulsdon conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 buyer.
I am the registered owner of a garden flat in Coulsdon. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Coulsdon property is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case was in relation to 3 flats. The the unexpired term as at the valuation date was 75 years.
In relation to leasehold conveyancing in Coulsdon what are the most common lease problems?
Leasehold conveyancing in Coulsdon is not unique. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
I invested in buying a ground floor flat in Coulsdon, conveyancing having been completed in 2005. Can you work out an approximate cost of a lease extension? Corresponding flats in Coulsdon with an extended lease are worth £243,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2095
With just 69 years remaining on your lease we estimate the price of your lease extension to span between £14,300 and £16,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.