Top Five Questions relating to Harold Park leasehold conveyancing
I wish to let out my leasehold flat in Harold Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Harold Park do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I have just started marketing my 2 bed flat in Harold Park.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – Do I pay up?
It best that you discharge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold house in Harold Park. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Harold Park who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Harold Park conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a reputable estate agent office in Harold Park where we see a number of flat sales derailed due to short leases. I have received contradictory information from local Harold Park conveyancing firms. Can you confirm whether the owner of a flat can commence 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. 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.
An alternative approach is to agree the lease extension with the freeholder 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.
I have given up trying to reach an agreement for a lease extension in Harold Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing landlord 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 decide the amount due.
An example of a Lease Extension decision for a Harold Park flat 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 was in relation to 1 flat. The remaining number of years on the lease was 57.5 years.
In relation to leasehold conveyancing in Harold Park what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Harold Park. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Leeds Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.