Fixed-fee leasehold conveyancing in Custom House:

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Common questions relating to Custom House leasehold conveyancing

I am intending to rent out my leasehold flat in Custom House. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Custom House do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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.

Expecting to sign contracts shortly on a ground floor flat in Custom House. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Custom House should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • The total extent of the demise. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • You should have a good understanding of the insurance provisions
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Custom House please enquire of your solicitor in ahead of your conveyancing in Custom House

    • I am tempted by the attractive purchase price for a two maisonettes in Custom House which have about forty five years remaining on the lease term. Will this present a problem?

    A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

    I am a negotiator for a reputable estate agent office in Custom House where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Custom House conveyancing firms. Can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

    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 proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

    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.

    Can you provide any advice for leasehold conveyancing in Custom House with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Custom House can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
    • The majority landlords or Management Companies in Custom House levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Custom House.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Custom House state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you dont have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate is often a time consuming process and slows down many a Custom House home move. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Custom House. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We can put you in touch with a Custom House conveyancing firm who can help.

    An example of a Lease Extension decision for a Custom House residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.