Recently asked questions relating to Cubitt Town leasehold conveyancing
I am intending to sublet my leasehold apartment in Cubitt Town. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A lease dictates the relationship between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Cubitt Town do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Cubitt Town. I am keen to get lease extension but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent would be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Cubitt Town.
I work for a reputable estate agency in Cubitt Town where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given conflicting advice from local Cubitt Town conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. 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.
All being well we will complete the disposal of our £450000 flat in Cubitt Town next Wednesday . The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Cubitt Town?
Cubitt Town conveyancing on leasehold flats more often than not necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I am the proprietor of a garden flat in Cubitt Town. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Freehold Enfranchisement case for a Cubitt Town premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired term was 101.61 years.
When it comes to leasehold conveyancing in Cubitt Town what are the most frequent lease problems?
Leasehold conveyancing in Cubitt Town is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. 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
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Mortgage Works, and Barclays Direct 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 problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.