Top Five Questions relating to Palmers Green leasehold conveyancing
I want to rent out my leasehold apartment in Palmers Green. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
The lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Palmers Green do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I own a leasehold flat in Palmers Green. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Palmers Green who previously acted has long since retired.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to instruct a Palmers Green conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a busy estate agency in Palmers Green where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Palmers Green conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
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 buyer need not have to wait 2 years to extend their lease. 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 agree the lease extension with the freeholder 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.
Do you have any advice for leasehold conveyancing in Palmers Green from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Palmers Green can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
- Many landlords or managing agents in Palmers Green charge for supplying management packs for a leasehold homes. You or your lawyers should find out 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 typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Palmers Green.
If all goes to plan we aim to complete our sale of a £450000 flat in Palmers Green next Tuesday . The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Palmers Green?
Palmers Green conveyancing on leasehold apartments normally requires the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
My wife and I have hit a brick wall in trying to purchase the freehold in Palmers Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Palmers Green conveyancing firm who can help.
An example of a Lease Extension decision for a Palmers Green premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.