Northwood leasehold conveyancing: Q and A’s
Helen (my wife) and I may need to let out our Northwood garden flat for a while due to a career opportunity. We used a Northwood conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Northwood conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
Expecting to exchange soon on a garden flat in Northwood. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Northwood should include some of the following:
- Setting out your legal entitlements in relation to the communal areas in the block.By way of example, does the lease include a right of way over a path or hallways?
- Does the lease prohibit wood flooring?
- Will you be prohibited or prevented from having pets in the property?
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Repair and maintenance of the flat
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- Responsibility for repairing the window frames
I’m about to sell my basement flat in Northwood.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay 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 until 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 top tips for leasehold conveyancing in Northwood with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Northwood can be avoided where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Northwood leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Where you dont have the paperwork in place do not contact the landlord without checking with your lawyer in advance.
- A minority of Northwood leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
- If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Obtaining a replacement share certificate is often a time consuming process and delays many a Northwood home move. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
- You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I inherited a a ground floor purpose built flat in Northwood. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Northwood conveyancing firm who can help.
An example of a Lease Extension case for a Northwood residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The remaining number of years on the lease was 71 years.
What are the common deficiencies that you encounter in leases for Northwood properties?
There is nothing unique about leasehold conveyancing in Northwood. All leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- 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
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Nottingham Building Society all have express 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 purchaser to withdraw.
I bought a ground floor flat in Northwood, conveyancing was carried out in 2006. How much will my lease extension cost? Comparable flats in Northwood with a long lease are worth £255,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2105
With just 79 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.