Common questions relating to Norwood Green leasehold conveyancing
I am intending to let out my leasehold apartment in Norwood Green. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Norwood Green conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must obtain permission from your landlord or other appropriate person prior to subletting. This means that you cannot sublet without prior consent. The consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I have recently realised that I have 68 years remaining on my lease in Norwood Green. I now want to get lease extension but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the freeholder. For most situations a specialist would be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Norwood Green.
My wife and I purchased a leasehold flat in Norwood Green. Conveyancing and Halifax mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Norwood Green who previously acted has now retired.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Norwood Green conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Norwood Green. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any top tips for leasehold conveyancing in Norwood Green with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Norwood Green can be avoided where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
- The majority freeholders or Management Companies in Norwood Green charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Norwood Green.
- Some Norwood Green leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
- If you hold a share in a the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a lengthy process and slows down many a Norwood Green home move. Where a new share certificate is required, do contact 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 you should verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Norwood Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Norwood Green conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Norwood Green residence 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 related to 2 flats. The unexpired term was 72.39 years.
Norwood Green Leasehold Conveyancing - Sample of Questions you should ask before buying
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How much is the ground rent and service charge?
How many years remain on the lease?
If a Norwood Green lease has fewer than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your mortgage company that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have owned the premises for 24 months in order to be eligible to exercise a lease extension.