Crystal Palace leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Crystal Palace. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in Crystal Palace - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am intending to rent out my leasehold flat in Crystal Palace. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Crystal Palace do not contain subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Looking forward to complete next month on a basement flat in Crystal Palace. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Crystal Palace should include some of the following:
- The physical extent of the property. This will be the apartment itself but could also include a roof space or basement if applicable.
Do you have any top tips for leasehold conveyancing in Crystal Palace from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Crystal Palace can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- The majority landlords or Management Companies in Crystal Palace charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Crystal Palace.
Completion in due on the sale of our £150000 apartment in Crystal Palace next week. The freeholder has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Crystal Palace?
Crystal Palace conveyancing on leasehold apartments often necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.
Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Crystal Palace. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Crystal Palace conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Crystal Palace residence is Flat 5 4 Border Crescent in December 2013. the tribunal calculated that premium payable for the acquisition of a lease extension of the subject premises was in the sum of £14,900 (Fourteen thousand, nine hundred pounds). Those advising the applicant were advised to send a copy of the decision and a copy of the new lease with the premium (less the applicants costs as assessed by the Court) to the Croydon County Court (under claim number 3CR01226) for an officer of the Court to execute the new lease on behalf of the absentee landlord who is missing and cannot be traced). This case affected 1 flat. The the unexpired term as at the valuation date was 69 years.