Examples of recent questions relating to leasehold conveyancing in Gospel Oak
I want to rent out my leasehold flat in Gospel Oak. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Gospel Oak conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Back In 2001, I bought a leasehold house in Gospel Oak. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Gospel Oak who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Gospel Oak conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of maisonettes in Gospel Oak both have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field
Last month I purchased a leasehold property in Gospel Oak. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
What are your top tips when it comes to appointing a Gospel Oak conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Gospel Oak conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Gospel Oak conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
I have given up trying to purchase the freehold in Gospel Oak. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the amount due.
An example of a Lease Extension decision for a Gospel Oak property is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The the unexpired term as at the valuation date was 64.77 years.