Examples of recent questions relating to leasehold conveyancing in Havering-atte-Bower
I wish to let out my leasehold apartment in Havering-atte-Bower. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Havering-atte-Bower do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I am hoping to complete next month on a ground floor flat in Havering-atte-Bower. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Havering-atte-Bower should include some of the following:
- The physical extent of the premises. This will be the property itself but may incorporate a roof space or cellar if appropriate.
- Whether your lease has a provision for a sinking fund?
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
I am looking at a couple of flats in Havering-atte-Bower which have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Havering-atte-Bower. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
I've recently bought a leasehold flat in Havering-atte-Bower. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you offer any advice when it comes to appointing a Havering-atte-Bower conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Havering-atte-Bower conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Havering-atte-Bower conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- Can they put you in touch with client in Havering-atte-Bower who can give a testimonial?
- What are the costs for lease extension conveyancing?
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Havering-atte-Bower. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Havering-atte-Bower conveyancing firm who can help.
An example of a Lease Extension decision for a Havering-atte-Bower residence 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 affected 1 flat. The unexpired term was 57.5 years.
I purchased a basement flat in Havering-atte-Bower, conveyancing having been completed in 2011. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Havering-atte-Bower with a long lease are worth £260,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2096
With only 70 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.