Recently asked questions relating to Old Coulsdon leasehold conveyancing
I would like to let out my leasehold apartment in Old Coulsdon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Old Coulsdon do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Old Coulsdon. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Old Coulsdon ?
The majority of houses in Old Coulsdon are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Old Coulsdon in which case you should be looking for a Old Coulsdon conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
Last month I purchased a leasehold house in Old Coulsdon. Do I have any liability for 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I work for a long established estate agent office in Old Coulsdon where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Old Coulsdon conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that 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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
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.
We expect to complete our sale of a £ 500000 flat in Old Coulsdon next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Old Coulsdon?
Old Coulsdon conveyancing on leasehold maisonettes normally involves administration charges invoiced by freeholders :
- Answering pre-contract questions
- Where consent is required before sale in Old Coulsdon
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Old Coulsdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Old Coulsdon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Coulsdon premises is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The remaining number of years on the lease was 75 years.
I bought a 2 bed flat in Old Coulsdon, conveyancing was carried out 2005. How much will my lease extension cost? Corresponding flats in Old Coulsdon with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2082
You have 56 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.