Eden Park leasehold conveyancing Example Support Desk Enquiries
Harry (my fiance) and I may need to rent out our Eden Park garden flat for a while due to a new job. We instructed a Eden Park conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
The lease dictates relations 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 accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Eden Park do not prevent subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Looking forward to exchange soon on a garden flat in Eden Park. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Eden Park should include some of the following:
- Setting out your legal entitlements in respect of the communal areas in the building.For example, does the lease grant a right of way over a path or hallways?
- Does the lease require carpeting throughout thus preventing wood flooring?
- You should be told what constitutes a Nuisance in the lease
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- You should have a good understanding of the insurance provisions
- Responsibility for repairing the window frames
Last month I purchased a leasehold house in Eden Park. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any advice for leasehold conveyancing in Eden Park from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Eden Park can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers conveyancers.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Eden Park state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. Should you dont have the consents to hand you should not contact the landlord without checking with your conveyancer in advance.
- A minority of Eden Park leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
- If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate can be a lengthy process and slows down many a Eden Park conveyancing transaction. If a duplicate share is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
- You believe that you know the number of years left on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
I have had difficulty in seeking a lease extension in Eden Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Eden Park conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Eden Park flat is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case related to 2 flats. The the number of years remaining on the existing lease(s) was 76.75 and 88.83.
Are there frequently found deficiencies that you see in leases for Eden Park properties?
There is nothing unique about leasehold conveyancing in Eden Park. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. 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
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could 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. Barclays , Chelsea Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I am the registered owner of a leasehold flat in Eden Park, conveyancing formalities finalised 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Eden Park with over 90 years remaining are worth £231,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2089
With just 63 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.