Frequently asked questions relating to Feltham leasehold conveyancing
I wish to sublet my leasehold flat in Feltham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Feltham 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 dictates 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 consent.
I work for a reputable estate agency in Feltham where we have experienced a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Feltham conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension process for the buyer?
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 sit tight for 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 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 buyer.
What advice can you give us when it comes to finding a Feltham conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Feltham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Feltham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If the firm is not ALEP accredited then what is the reason?
Can you provide any advice for leasehold conveyancing in Feltham with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Feltham can be avoided where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
- The majority freeholders or Management Companies in Feltham levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Feltham.
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 Feltham conveyancing firm to help?
Most certainly. We can put you in touch with a Feltham conveyancing firm who can help.
An example of a Lease Extension case for a Feltham premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The unexpired term was 82.93 years.
When it comes to leasehold conveyancing in Feltham what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Feltham. All leases is drafted differently and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- 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 could 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. Lloyds TSB Bank, Leeds Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.