Norwood Green leasehold conveyancing Example Support Desk Enquiries
I wish to rent out my leasehold flat in Norwood Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Norwood Green conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must obtain permission from your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of prior permission. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Expecting to sign contracts shortly on a basement flat in Norwood Green. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Norwood Green should include some of the following:
- You should be sent a copy of the lease
I am attracted to a couple of flats in Norwood Green both have in the region of 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Norwood Green. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
I am a negotiator for a reputable estate agent office in Norwood Green where we have experienced a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Norwood Green conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 maisonette in Norwood Green in nine days. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Norwood Green?
Norwood Green conveyancing on leasehold maisonettes normally necessitates the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I am the proprietor of a basement flat in Norwood Green. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Norwood Green premises is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.
Other Topics