Sample questions relating to Friern Barnet leasehold conveyancing
Frank (my husband) and I may need to let out our Friern Barnet basement flat temporarily due to a new job. We instructed a Friern Barnet conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Even though your last Friern Barnet conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet without first obtaining permission. The consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I only have 72 years remaining on my lease in Friern Barnet. I need to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the lessor. On the whole an enquiry agent should be helpful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Friern Barnet.
I am looking at a couple of maisonettes in Friern Barnet which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Friern Barnet is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat 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 Friern Barnet 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.
Can you offer any advice when it comes to appointing a Friern Barnet conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Friern Barnet conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Friern Barnet conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- What volume of lease extensions has the firm completed in Friern Barnet in the last year?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £500000 flat in Friern Barnet next week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Friern Barnet?
Friern Barnet conveyancing on leasehold flats usually necessitates administration charges raised by landlords agents :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Friern Barnet
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Friern Barnet. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension decision for a Friern Barnet property is 34 Poplar Grove in June 2013. The Tribunal directed that the premium for the lease extension should be in the sum of £10,250. This case was in relation to 1 flat.
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