Recently asked questions relating to Pentonville leasehold conveyancing
Jane (my partner) and I may need to rent out our Pentonville 1st floor flat temporarily due to taking a sabbatical. We used a Pentonville conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Pentonville 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 review 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.
There are only 62 years left on my lease in Pentonville. I need to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole a specialist should be useful to conduct investigations and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Pentonville.
Expecting to exchange soon on a garden flat in Pentonville. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Pentonville should include some of the following:
- You should be sent a copy of the lease
Can you provide any top tips for leasehold conveyancing in Pentonville with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Pentonville can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
- Many landlords or Management Companies in Pentonville levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Pentonville.
We have reached the end of our tether in trying to purchase the freehold in Pentonville. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Pentonville conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Pentonville premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The remaining number of years on the lease was 66.8 years.
Are there frequently found problems that you encounter in leases for Pentonville properties?
Leasehold conveyancing in Pentonville is not unique. Most leases are individual and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.