Recently asked questions relating to Dollis Hill leasehold conveyancing
Frank (my husband) and I may need to rent out our Dollis Hill basement flat for a while due to taking a sabbatical. We instructed a Dollis Hill conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Dollis Hill conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have just appointed agents to market my ground floor apartment in Dollis Hill.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – what should I do?
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 managing agents 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. This will smooth the conveyancing process.
I own a leasehold house in Dollis Hill. Conveyancing and Clydesdale mortgage are in place. 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 1994. The conveyancing practitioner in Dollis Hill who previously acted has now retired.Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Dollis Hill conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two flats in Dollis Hill which have about forty five years remaining on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Dollis Hill is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dollis Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
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 Dollis Hill conveyancing firm to represent me?
You certainly can. We can put you in touch with a Dollis Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Dollis Hill premises is 12 & 12A Deacon Road in May 2010. the Tribunal concluded that the price to be paid for the freehold should be £38,287 This case related to 2 flats. The unexpired lease term was 65.58 years.
What are the common deficiencies that you encounter in leases for Dollis Hill properties?
Leasehold conveyancing in Dollis Hill is not unique. Most leases is drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Bank of Ireland all have express requirements 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, forcing the purchaser to pull out.
I acquired a 2 bed flat in Dollis Hill, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Dollis Hill with an extended lease are worth £181,000. The ground rent is £65 per annum. The lease expires on 21st October 2097
With 71 years unexpired the likely cost is going to be between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.