Top Five Questions relating to New Southgate leasehold conveyancing
I am on look out for some leasehold conveyancing in New Southgate. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in New Southgate - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Harry (my fiance) and I may need to let out our New Southgate basement flat for a while due to a career opportunity. We used a New Southgate conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in New Southgate do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am hoping to exchange soon on a leasehold property in New Southgate. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in New Southgate should include some of the following:
- You should be sent a copy of the lease
What are your top tips when it comes to finding a New Southgate conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a New Southgate conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non New Southgate conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
All being well we will complete the sale of our £225000 apartment in New Southgate in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in New Southgate?
New Southgate conveyancing on leasehold apartments normally involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I have had difficulty in trying to purchase the freehold in New Southgate. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the price.
An example of a Freehold Enfranchisement case for a New Southgate flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The the unexpired term as at the valuation date was 70.31 years.