Recently asked questions relating to Enfield Highway leasehold conveyancing
I am in need of some leasehold conveyancing in Enfield Highway. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Enfield Highway - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I wish to sublet my leasehold apartment in Enfield Highway. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Enfield Highway do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests 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 started marketing my garden apartment in Enfield Highway.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 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 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.
I am tempted by the attractive purchase price for a couple of apartments in Enfield Highway which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Enfield Highway is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Enfield Highway conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
If all goes to plan we aim to complete the disposal of our £300000 maisonette in Enfield Highway next week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Enfield Highway?
Enfield Highway conveyancing on leasehold flats often necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I inherited a ground floor flat in Enfield Highway. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Enfield Highway conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold case for a Enfield Highway flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The the unexpired term as at the valuation date was 80.01 years.