Experts for Leasehold Conveyancing in Gidea Park

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Examples of recent questions relating to leasehold conveyancing in Gidea Park

Helen (my wife) and I may need to rent out our Gidea Park 1st floor flat for a while due to a new job. We used a Gidea Park conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Gidea Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.

Looking forward to exchange soon on a basement flat in Gidea Park. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Gidea Park should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • The physical extent of the property. This will be the apartment itself but could also include a loft or cellar if applicable.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Whether the lease restricts you from subletting the flat, or working from home
  • Whether your lease has a provision for a sinking fund?
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? For details of the information to be included in your report on your leasehold property in Gidea Park please enquire of your solicitor in advance of your conveyancing in Gidea Park

    • Back In 2006, I bought a leasehold flat in Gidea Park. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Gidea Park who previously acted has now retired.Do I pay?

    The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Gidea Park conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any advice for leasehold conveyancing in Gidea Park from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Gidea Park can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
    • Many freeholders or managing agents in Gidea Park charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Gidea Park.
  • A minority of Gidea Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the disposal of our £400000 garden flat in Gidea Park in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Gidea Park?

    Gidea Park conveyancing on leasehold flats usually necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Gidea Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    You certainly can. We can put you in touch with a Gidea Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Gidea Park property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.

    Other Topics

    Lease Extensions in Gidea Park