Common questions relating to Old Coulsdon leasehold conveyancing
I am intending to let out my leasehold flat in Old Coulsdon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A small minority of properties in Old Coulsdon do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 consent.
I have just appointed agents to market my basement apartment in Old Coulsdon.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Old Coulsdon. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Old Coulsdon are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Old Coulsdon in which case you should be looking for a Old Coulsdon conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
I am looking at a couple of flats in Old Coulsdon both have in the region of fifty years unexpired on the lease term. Do I need to be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
What are your top tips when it comes to appointing a Old Coulsdon conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Old Coulsdon conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Old Coulsdon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If they are not ALEP accredited then why not?
My wife and I have hit a brick wall in trying to purchase the freehold in Old Coulsdon. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement case 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 was in relation to 3 flats. The remaining number of years on the lease was 75 years.