Common questions relating to Elephant and Castle leasehold conveyancing
I want to sublet my leasehold flat in Elephant and Castle. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease dictates the relationship between the landlord and you the flat owner; specifically, it will say 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 permitted. Most leases in Elephant and Castle do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have just appointed agents to market my 2 bed apartment in Elephant and Castle.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 unless 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. This will smooth the conveyancing process.
I am employed by a busy estate agent office in Elephant and Castle where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Elephant and Castle conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 purchaser.
What advice can you give us when it comes to finding a Elephant and Castle conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Elephant and Castle conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Elephant and Castle conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- How many lease extensions have they completed in Elephant and Castle in the last 12 months?
If all goes to plan we aim to complete the disposal of our £175000 apartment in Elephant and Castle next Thursday . The management company has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Elephant and Castle?
Elephant and Castle conveyancing on leasehold apartments usually necessitates administration charges levied by freeholders :
- Completing pre-contract enquiries
- Where consent is required before sale in Elephant and Castle
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Elephant and Castle. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Elephant and Castle conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Elephant and Castle flat is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case was in relation to 1 flat. The the unexpired residue of the current lease was 74.77 years.