Top Five Questions relating to Ealing leasehold conveyancing
Frank (my husband) and I may need to sub-let our Ealing 1st floor flat temporarily due to a career opportunity. We used a Ealing conveyancing firm in 2001 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is banned, 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 Ealing do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Ealing. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in Ealing are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Ealing in which case you should be looking for a Ealing conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
I work for a reputable estate agency in Ealing where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Ealing conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 needs to be completed prior to, 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.
Do you have any advice for leasehold conveyancing in Ealing with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Ealing can be reduced if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Ealing state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you dont have the approvals in place do not contact the landlord without contacting your lawyer in the first instance.
- If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
- If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Organising a replacement share certificate can be a lengthy formality and delays many a Ealing conveyancing transaction. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
- You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
Completion in due on our sale of a £ 200000 maisonette in Ealing next Tuesday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Ealing?
Ealing conveyancing on leasehold apartments usually involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ealing. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Lease Extension decision for a Ealing property is Flat 4 38 The Mall in April 2014. the Tribunal held that the premium payable for the lease extension to be £25,451 This case related to 1 flat. The the unexpired term as at the valuation date was 68.7 years.
I own a basement flat in Ealing, conveyancing formalities finalised in 2007. Can you work out an approximate cost of a lease extension? Comparable flats in Ealing with a long lease are worth £269,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2078
You have 52 years unexpired we estimate the premium for your lease extension to be between £37,100 and £42,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.