Frequently asked questions relating to Lamorbey leasehold conveyancing
My partner and I may need to rent out our Lamorbey 1st floor flat for a while due to a career opportunity. We instructed a Lamorbey conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Lamorbey conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to seek permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent must not not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I own a leasehold flat in Lamorbey. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Lamorbey who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Lamorbey conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two apartments in Lamorbey which have approximately 50 years unexpired on the leases. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
What are your top tips when it comes to finding a Lamorbey conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Lamorbey conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Lamorbey conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- What volume of lease extensions have they completed in Lamorbey in the last year?
- What are the costs for lease extension work?
All being well we will complete the sale of our £ 500000 apartment in Lamorbey next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Lamorbey?
Lamorbey conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to sell the property.
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Lamorbey. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Lease Extension case 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 was in relation to 1 flat.
Lamorbey Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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For many Lamorbey leaseholds the outlay for major works tend not to be included within maintenance charges, although there some managing agents in Lamorbey obliged tenants to pay into a reserve fund created for the specific purpose of building a fund for major repairs or maintenance.