Sample questions relating to South Woodford leasehold conveyancing
I would like to rent out my leasehold apartment in South Woodford. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your previous South Woodford conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain consent via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of prior consent. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
Back In 2002, I bought a leasehold flat in South Woodford. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in South Woodford who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a South Woodford conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold flat in South Woodford. 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
We expect to complete the disposal of our £ 350000 apartment in South Woodford next Wednesday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in South Woodford?
For the majority of leasehold sales in South Woodford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in South Woodford
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in South Woodford. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We are happy to put you in touch with a South Woodford conveyancing firm who can help.
An example of a Lease Extension case for a South Woodford residence is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 71.2 years.
In relation to leasehold conveyancing in South Woodford what are the most frequent lease problems?
Leasehold conveyancing in South Woodford is not unique. Most leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations 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
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.
I purchased a leasehold flat in South Woodford, conveyancing was carried out in 2000. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in South Woodford with over 90 years remaining are worth £210,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2079
With just 53 years remaining on your lease the likely cost is going to range between £33,300 and £38,400 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.