Recently asked questions relating to Isleworth leasehold conveyancing
I want to rent out my leasehold flat in Isleworth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Your lease governs relations between the freeholder and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Isleworth do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
My wife and I purchased a leasehold flat in Isleworth. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Isleworth who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Isleworth conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a two flats in Isleworth both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Isleworth. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
If all goes to plan we aim to complete our sale of a £250000 apartment in Isleworth next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Isleworth?
Isleworth conveyancing on leasehold flats normally involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I am the registered owner of a a ground floor purpose built flat in Isleworth. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Lease Extension decision for a Isleworth property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The remaining number of years on the lease was 60.45 years.
What makes a Isleworth lease unmortgageable?
Leasehold conveyancing in Isleworth is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.