Leasehold Conveyancing in Eden Park - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Eden Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Eden Park leasehold conveyancing

My wife and I may need to sub-let our Eden Park ground floor flat for a while due to a new job. We used a Eden Park conveyancing practice in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Eden Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot 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.

I have just appointed agents to market my ground floor apartment in Eden Park.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

It best that you discharge 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

Last month I purchased a leasehold house in Eden Park. Am I liable to pay service charges for periods before my ownership?

In a situation 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).

I am a negotiator for a long established estate agency in Eden Park where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Eden Park conveyancing solicitors. Can you confirm whether the owner of a flat can initiate 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Eden Park from the point of view of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Eden Park can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • The majority landlords or Management Companies in Eden Park charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Eden Park.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Eden Park leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord approving such changes. Where you dont have the approvals to hand do not contact the landlord without checking with your lawyer 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 put in hand bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I own a ground floor flat in Eden Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

    Absolutely. We can put you in touch with a Eden Park conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision 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 affected 2 flats. The unexpired term was 76.75 and 88.83.

    Other Topics

    Lease Extensions in Eden Park