Sample questions relating to Shooter's Hill leasehold conveyancing
I would like to rent out my leasehold flat in Shooter's Hill. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Shooter's Hill do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 am looking at a two apartments in Shooter's Hill which have about 50 years unexpired on the leases. should I be concerned?
There are plenty of short leases in Shooter's Hill. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Last month I purchased a leasehold house in Shooter's Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What are your top tips when it comes to finding a Shooter's Hill conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Shooter's Hill conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Shooter's Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 maisonette in Shooter's Hill next week. The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shooter's Hill?
Shooter's Hill conveyancing on leasehold maisonettes usually necessitates the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
We have reached the end of our tether in trying to purchase the freehold in Shooter's Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Lease Extension case for a Shooter's Hill flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.