Seven Kings leasehold conveyancing Example Support Desk Enquiries
I wish to sublet my leasehold flat in Seven Kings. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease dictates relations between the landlord and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Seven Kings do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Having checked my lease I have discovered that there are only 62 years remaining on my lease in Seven Kings. I need to extend my lease but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Seven Kings.
I’m about to sell my ground floor apartment in Seven Kings.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?
It best that you clear the invoice 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 managing agents will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a couple of flats in Seven Kings which have approximately 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Seven Kings. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Do you have any top tips for leasehold conveyancing in Seven Kings with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Seven Kings can be reduced where you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
- The majority landlords or Management Companies in Seven Kings levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Seven Kings.
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Seven Kings. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. 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 premises 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 unexpired residue of the current lease was 61.36 years.