Examples of recent questions relating to leasehold conveyancing in Rush Green
Harry (my fiance) and I may need to sub-let our Rush Green basement flat temporarily due to a career opportunity. We instructed a Rush Green conveyancing practice in 2002 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?
Some leases for properties in Rush Green do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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.
I have just started marketing my ground floor apartment in Rush Green.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a two flats in Rush Green which have approximately fifty years left on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly 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 extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
If all goes to plan we aim to complete our sale of a £ 400000 garden flat in Rush Green on Thursday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Rush Green?
Rush Green conveyancing on leasehold flats often necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to do so. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Rush Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Rush Green conveyancing firm who can help.
An example of a Lease Extension case for a Rush Green flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.
What are the common problems that you encounter in leases for Rush Green properties?
Leasehold conveyancing in Rush Green is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
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. Yorkshire Building Society, Bank of Scotland, and Barclays Direct 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 problematic they may refuse to provide security, obliging the purchaser to withdraw.
I bought a split level flat in Rush Green, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Rush Green with an extended lease are worth £258,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2085
With 59 years left to run we estimate the premium for your lease extension to range between £23,800 and £27,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.