Enfield Lock leasehold conveyancing: Q and A’s
Helen (my wife) and I may need to sub-let our Enfield Lock basement flat for a while due to a career opportunity. We used a Enfield Lock conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Enfield Lock conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of prior consent. Such consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
Looking forward to sign contracts shortly on a garden flat in Enfield Lock. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Enfield Lock should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Changes to the flat (alterations and additions)
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Responsibility for repairing the window frames
- What the implications are if you breach a clause of your lease?
I've recently bought a leasehold house in Enfield Lock. Do I have any liability for 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 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 work for a reputable estate agent office in Enfield Lock where we have experienced a number of flat sales put at risk due to short leases. I have received inconsistent advice from local Enfield Lock conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner 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. This means that the proposed purchaser 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 prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
What are your top tips when it comes to finding a Enfield Lock conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Enfield Lock conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Enfield Lock conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
- What are the costs for lease extension work?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Enfield Lock conveyancing firm to act on my behalf?
in cases where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Vesting Order and Purchase of freehold case for a Enfield Lock property 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 unexpired lease term was 80.01 years.
I am the registered owner of a 1st floor flat in Enfield Lock, conveyancing formalities finalised 8 years ago. How much will my lease extension cost? Equivalent flats in Enfield Lock with over 90 years remaining are worth £242,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2093
You have 67 years unexpired we estimate the price of your lease extension to range between £15,200 and £17,600 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.