Edgware leasehold conveyancing Example Support Desk Enquiries
I wish to sublet my leasehold apartment in Edgware. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Edgware conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to obtain permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Back In 2001, I bought a leasehold flat in Edgware. Conveyancing and Santander mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Edgware who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Edgware conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agency in Edgware where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Edgware conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner 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. The benefit of this is 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 has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 top tips for leasehold conveyancing in Edgware from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Edgware can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Edgware state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you dont have the consents in place do not communicate with the landlord without checking with your lawyer first.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Edgware conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Edgware conveyancing firm who can help.
An example of a Lease Extension decision for a Edgware flat is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 71.73 years.
What makes a Edgware lease unacceptable for security purposes?
Leasehold conveyancing in Edgware is not unique. Most leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations 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
You may have 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. National Westminster Bank, The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.