Frequently asked questions relating to Old Oak Common leasehold conveyancing
I am intending to let out my leasehold flat in Old Oak Common. 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 Oak Common do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 sign contracts shortly on a ground floor flat in Old Oak Common. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Old Oak Common should include some of the following:
- You should receive a copy of the lease
I've recently bought a leasehold house in Old Oak Common. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner 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. It is an essential part 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).
What advice can you give us when it comes to choosing a Old Oak Common conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Old Oak Common conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Old Oak Common conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- What volume of lease extensions have they completed in Old Oak Common in the last year?
Do you have any top tips for leasehold conveyancing in Old Oak Common with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Old Oak Common can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- The majority landlords or managing agents in Old Oak Common charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Old Oak Common.
My wife and I have hit a brick wall in trying to purchase the freehold in Old Oak Common. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement case for a Old Oak Common property is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case was in relation to 2 flats. The the unexpired term as at the valuation date was 68.47 years.