Fixed-fee leasehold conveyancing in Eel Pie Island:

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Top Five Questions relating to Eel Pie Island leasehold conveyancing

My wife and I may need to rent out our Eel Pie Island 1st floor flat temporarily due to a new job. We instructed a Eel Pie Island conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease dictates relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, 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 Eel Pie Island do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

My wife and I purchased a leasehold house in Eel Pie Island. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Eel Pie Island who acted for me is not around.Any advice?

The first thing you should do is 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 Eel Pie Island conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Eel Pie Island. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 ensure 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).

What are your top tips when it comes to appointing a Eel Pie Island conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Eel Pie Island conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Eel Pie Island conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How many lease extensions have they carried out in Eel Pie Island in the last 12 months?
  • Can they put you in touch with client in Eel Pie Island who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Eel Pie Island with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Eel Pie Island can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
    • Many freeholders or Management Companies in Eel Pie Island charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Eel Pie Island.
  • A minority of Eel Pie Island leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 solicitors.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Arranging a replacement share certificate can be a time consuming process and slows down many a Eel Pie Island home move. If a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an as soon as possible 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.

    • We have reached the end of our tether in negotiating a lease extension in Eel Pie Island. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the premium.

    An example of a Lease Extension decision for a Eel Pie Island flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The the unexpired term as at the valuation date was 60.45 years.