Common questions relating to Hampstead Garden Suburb leasehold conveyancing
My husband and I may need to let out our Hampstead Garden Suburb 1st floor flat for a while due to a career opportunity. We instructed a Hampstead Garden Suburb conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Hampstead Garden Suburb do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 permission.
I've recently bought a leasehold house in Hampstead Garden Suburb. Am I liable to pay service charges for periods before my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 finding a Hampstead Garden Suburb conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Hampstead Garden Suburb conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Hampstead Garden Suburb conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Hampstead Garden Suburb from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Hampstead Garden Suburb can be avoided if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
- The majority freeholders or managing agents in Hampstead Garden Suburb charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for 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 delay in leasehold conveyancing in Hampstead Garden Suburb.
If all goes to plan we aim to complete the disposal of our £350000 apartment in Hampstead Garden Suburb in just under a week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Hampstead Garden Suburb?
Hampstead Garden Suburb conveyancing on leasehold flats often necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They may invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in Hampstead Garden Suburb. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Hampstead Garden Suburb conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hampstead Garden Suburb premises is FFF, 37 and Garage 1, Queensborough Court North Circular Road in September 2012. The Tribunal determined that the premium for the lease extension should be £67,037 This case was in relation to 1 flat. The unexpired term was 23.66 years.