Sample questions relating to Harrow Weald leasehold conveyancing
Harry (my fiance) and I may need to let out our Harrow Weald 1st floor flat for a while due to a career opportunity. We used a Harrow Weald conveyancing firm in 2004 but they have closed 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?
A small minority of properties in Harrow Weald do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see 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 recently realised that I have Fifty years remaining on my lease in Harrow Weald. I am keen to get lease extension but my freeholder is missing. What should I do?
If 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 mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Harrow Weald.
I am hoping to complete next month on a basement flat in Harrow Weald. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Harrow Weald should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I am looking at a two apartments in Harrow Weald which have approximately fifty years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Harrow Weald is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Harrow Weald conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
We expect to complete the disposal of our £375000 apartment in Harrow Weald next Thursday . The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Harrow Weald?
Harrow Weald conveyancing on leasehold flats often involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Harrow Weald. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to calculate the price payable.
An example of a Lease Extension matter before the tribunal for a Harrow Weald premises is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 75.25 years.