Osidge leasehold conveyancing: Q and A’s
Harry (my fiance) and I may need to sub-let our Osidge basement flat temporarily due to taking a sabbatical. We instructed a Osidge conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Osidge do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
There are only Fifty years left on my flat in Osidge. I am keen to extend my lease but my freeholder is missing. What should I do?
On the basis that you qualify, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. In some cases a specialist may be helpful to try and locate and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Osidge.
Expecting to exchange soon on a ground floor flat in Osidge. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Osidge should include some of the following:
- You should receive a copy of the lease
I am attracted to a two flats in Osidge which have in the region of 50 years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Osidge. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability 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. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
All being well we will complete our sale of a £375000 garden flat in Osidge in just under a week. The managing agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Osidge?
Osidge conveyancing on leasehold flats often necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Osidge. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Osidge flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The the unexpired term as at the valuation date was 70.31 years.