Common questions relating to Hadley Wood leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Hadley Wood. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Hadley Wood - 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.
Frank (my husband) and I may need to rent out our Hadley Wood basement flat temporarily due to taking a sabbatical. We instructed a Hadley Wood conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Hadley Wood do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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 have just appointed agents to market my ground floor apartment in Hadley Wood.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am a negotiator for a long established estate agent office in Hadley Wood where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Hadley Wood conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner 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 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 has to be done prior to, or at the same time as completion of the sale.
An alternative approach is 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.
Completion in due on our sale of a £500000 flat in Hadley Wood in 8 days. The landlords agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Hadley Wood?
Hadley Wood conveyancing on leasehold apartments more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may levy 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 transactions it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded if you want to sell the property.
Despite our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Hadley Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension case for a Hadley Wood residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The remaining number of years on the lease was 76 years.