Top Five Questions relating to Northwood leasehold conveyancing
I wish to let out my leasehold apartment in Northwood. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Northwood do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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 permission.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Northwood. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Northwood are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Northwood in which case you should be shopping around for a Northwood conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
My wife and I purchased a leasehold house in Northwood. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Northwood who previously acted has now retired.What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Northwood conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Northwood from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Northwood can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Northwood state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer in advance.
I have had difficulty in trying to purchase the freehold in Northwood. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the amount due.
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 unexpired lease term was 71 years.
What are the frequently found deficiencies that you witness in leases for Northwood properties?
Leasehold conveyancing in Northwood is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- 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. Nationwide Building Society, Barnsley Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.