Examples of recent questions relating to leasehold conveyancing in Homerton
I want to let out my leasehold flat in Homerton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Homerton 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 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.
There are only 68 years left on my flat in Homerton. I need to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the landlord. On the whole an enquiry agent should be helpful to try and locate and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Homerton.
Estate agents have just been given the go-ahead to market my 2 bed flat in Homerton.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is 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 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. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a couple of flats in Homerton both have in the region of fifty years left on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this arena
I am a negotiator for a busy estate agency in Homerton where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Homerton conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 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 before, or at the same time as completion of the sale.
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 tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Homerton conveyancing firm to help?
Most certainly. We can put you in touch with a Homerton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Homerton premises is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case was in relation to 10 flats. The the unexpired residue of the current lease was 71.25 years.
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