Guaranteed fixed fees for Leasehold Conveyancing in Grange Park

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Top Five Questions relating to Grange Park leasehold conveyancing

I am in need of some leasehold conveyancing in Grange Park. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Grange Park - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I would like to sublet my leasehold apartment in Grange Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Grange Park do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I have recently realised that I have Seventy years left on my lease in Grange Park. I need to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. In some cases a specialist would be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court overseeing Grange Park.

I am a negotiator for a busy estate agent office in Grange Park where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Grange Park conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

Do you have any top tips for leasehold conveyancing in Grange Park from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Grange Park can be bypassed if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or managing agents in Grange Park charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Grange Park.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Grange Park leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer before hand.
  • Some Grange Park leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 buyers or their solicitors.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Grange Park. Can we issue an application to the Residential Property Tribunal Service?

    Most certainly. We are happy to put you in touch with a Grange Park conveyancing firm who can help.

    An example of a Lease Extension decision for a Grange Park flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.

    Other Topics

    Lease Extensions in Grange Park