Fixed-fee leasehold conveyancing in Raynes Park:

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Top Five Questions relating to Raynes Park leasehold conveyancing

I am intending to let out my leasehold apartment in Raynes Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Raynes Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold 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.

Expecting to sign contracts shortly on a basement flat in Raynes Park. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Raynes Park should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the property. This will be the apartment itself but could also include a roof space or cellar if appropriate.
  • Whether the lease restricts you from letting out the flat, or working from home
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Raynes Park please ask your lawyer in ahead of your conveyancing in Raynes Park

  • I work for a busy estate agency in Raynes Park where we have experienced a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Raynes Park conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

    Alternatively, it may be possible 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.

    What advice can you give us when it comes to appointing a Raynes Park conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Raynes Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Raynes Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • If the firm is not ALEP accredited then what is the reason?
  • What are the costs for lease extension work?

  • I am the leaseholder of a ground-floor 1960’s flat in Raynes Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    if there is a missing freeholder or where there is dispute 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 First-tier Tribunal (Property Chamber) to calculate the price payable.

    An example of a Lease Extension decision for a Raynes Park residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The remaining number of years on the lease was 60.43 years.

    In relation to leasehold conveyancing in Raynes Park what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Raynes Park. All leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Raynes Park