Questions and Answers: Seven Kings leasehold conveyancing
My wife and I may need to rent out our Seven Kings garden flat temporarily due to a career opportunity. We used a Seven Kings conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Seven Kings conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of prior permission. The consent should not be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Seven Kings. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Seven Kings ?
The majority of houses in Seven Kings are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Seven Kings in which case you should be shopping around for a Seven Kings conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I am employed by a reputable estate agent office in Seven Kings where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Seven Kings conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension formalities 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. The benefit of this is that the buyer can avoid having to wait 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 at the same time as completion of the disposal of the property.
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.
What are your top tips when it comes to choosing a Seven Kings conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Seven Kings conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Seven Kings 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:
- What volume of lease extensions have they completed in Seven Kings in the last twenty four months?
- Can they put you in touch with client in Seven Kings who can give a testimonial?
We expect to complete the disposal of our £ 425000 apartment in Seven Kings on Wednesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Seven Kings?
Seven Kings conveyancing on leasehold apartments normally involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I have had difficulty in seeking a lease extension in Seven Kings. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Seven Kings conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Seven Kings residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 61.36 years.
Leasehold Conveyancing in Seven Kings - Examples of Queries before Purchasing
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Are there any major works anticipated that will likely add a premium to the service costs?