Rayners Lane leasehold conveyancing Example Support Desk Enquiries
I wish to let out my leasehold apartment in Rayners Lane. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Rayners Lane conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior consent. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Rayners Lane. I need to get lease extension but my freeholder is missing. What options are available to me?
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 an order 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 have made all reasonable attempts to track down the landlord. For most situations an enquiry agent would be helpful to carry out a search and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Rayners Lane.
I am attracted to a two flats in Rayners Lane which have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Rayners Lane is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rayners Lane conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Can you provide any advice for leasehold conveyancing in Rayners Lane from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Rayners Lane can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
- The majority freeholders or Management Companies in Rayners Lane charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Rayners Lane.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 maisonette in Rayners Lane in 5 days. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Rayners Lane?
Rayners Lane conveyancing on leasehold maisonettes ordinarily results in fees being invoiced by management companies :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Rayners Lane
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Rayners Lane. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
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 it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension matter before the tribunal for a Rayners Lane residence is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case affected 1 flat. The the unexpired term as at the valuation date was 79 years.