Common questions relating to Slade Green leasehold conveyancing
I am on look out for some leasehold conveyancing in Slade Green. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Slade Green - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My wife and I may need to let out our Slade Green garden flat temporarily due to a new job. We instructed a Slade Green conveyancing firm in 2002 but they have closed 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?
The lease dictates relations between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Slade Green do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Due to sign contracts shortly on a basement flat in Slade Green. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Slade Green should include some of the following:
- The physical extent of the property. This will be the flat itself but may incorporate a loft or basement if appropriate.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Slade Green. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Slade Green are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Slade Green in which case you should be shopping around for a Slade Green conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.
Completion in due on our sale of a £375000 garden flat in Slade Green next week. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Slade Green?
Slade Green conveyancing on leasehold apartments normally involves the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to do so. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Slade Green conveyancing firm to represent me?
Most definitely. We are happy to put you in touch with a Slade Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Slade Green residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the unexpired term as at the valuation date was 76 years.