Top Five Questions relating to Mill Hill leasehold conveyancing
I wish to sublet my leasehold flat in Mill Hill. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs relations between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Mill Hill do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Looking forward to complete next month on a leasehold property in Mill Hill. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Mill Hill should include some of the following:
- Setting out your rights in respect of common areas in the block.E.G., does the lease contain a right of way over a path or staircase?
Estate agents have just been given the go-ahead to market my garden flat in Mill Hill.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – Do I pay up?
It best that you discharge the service charge 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 management companies 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.
Can you provide any advice for leasehold conveyancing in Mill Hill from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Mill Hill can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- Many landlords or Management Companies in Mill Hill levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Mill Hill.
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Mill Hill. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Mill Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Mill Hill premises is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 71.73 years.
What makes a Mill Hill lease defective?
Leasehold conveyancing in Mill Hill is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.