Questions and Answers: North Kensington leasehold conveyancing
I want to rent out my leasehold apartment in North Kensington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous North Kensington conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 68 years left on my flat in North Kensington. I am keen to extend my lease but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering North Kensington.
I have just appointed agents to market my garden apartment in North Kensington.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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.
If all goes to plan we aim to complete the disposal of our £225000 maisonette in North Kensington on Friday in a week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in North Kensington?
North Kensington conveyancing on leasehold maisonettes normally involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
We have reached the end of our tether in trying to purchase the freehold in North Kensington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a North Kensington conveyancing firm who can help.
An example of a Lease Extension case for a North Kensington property is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The unexpired term was 37.79 years.
What are the frequently found problems that you witness in leases for North Kensington properties?
Leasehold conveyancing in North Kensington is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.