Common questions relating to Lamorbey leasehold conveyancing
Jane (my partner) and I may need to sub-let our Lamorbey 1st floor flat for a while due to a new job. We used a Lamorbey conveyancing practice in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, 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 Lamorbey do not contain strict prohibition on subletting – such a clause 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've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Lamorbey. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Lamorbey are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Lamorbey in which case you should be looking for a Lamorbey conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
I own a leasehold house in Lamorbey. Conveyancing and Bank of Ireland mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Lamorbey who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Lamorbey conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured 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 work for a busy estate agent office in Lamorbey where we have witnessed a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Lamorbey conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. 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.
Alternatively, it may be possible 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.
If all goes to plan we aim to complete our sale of a £300000 flat in Lamorbey next week. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Lamorbey?
Lamorbey conveyancing on leasehold apartments usually necessitates the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They may levy a reasonable administration fee 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 above £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the proprietor of a two-bedroom flat in Lamorbey. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
Most certainly. We are happy to put you in touch with a Lamorbey conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Lamorbey flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.