Frequently asked questions relating to Manor Park leasehold conveyancing
Frank (my husband) and I may need to rent out our Manor Park garden flat for a while due to a career opportunity. We instructed a Manor Park conveyancing practice in 2001 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Manor Park conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
I have just started marketing my garden flat in Manor Park.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay 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 unless 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 employed by a busy estate agency in Manor Park where we see a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local Manor Park conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that 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. This means that the buyer 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 simultaneously with 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 the disposal of our £350000 maisonette in Manor Park on Monday in a week. The freeholder has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Manor Park?
Manor Park conveyancing on leasehold apartments normally necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Manor Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Manor Park conveyancing firm who can help.
An example of a Lease Extension case for a Manor Park flat is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the first floor flat. This case was in relation to 2 flats. The the unexpired residue of the current lease was 65.5 years.
When it comes to leasehold conveyancing in Manor Park what are the most common lease defects?
Leasehold conveyancing in Manor Park is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
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