Recently asked questions relating to Southfields leasehold conveyancing
I am on look out for some leasehold conveyancing in Southfields. Before diving in 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 most are in Southfields - 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 rent out our Southfields garden flat for a while due to taking a sabbatical. We instructed a Southfields conveyancing firm in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Southfields do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests 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 have recently realised that I have 72 years remaining on my flat in Southfields. I now want to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Southfields.
Can you provide any top tips for leasehold conveyancing in Southfields from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Southfields can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
- Many freeholders or managing agents in Southfields levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Southfields.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Southfields state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. Should you dont have the consents to hand you should not contact the landlord without checking with your solicitor in advance.
- If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Arranging a re-issued share certificate can be a lengthy process and delays many a Southfields home move. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
- You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is below 80 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
All being well we will complete the sale of our £ 450000 garden flat in Southfields next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Southfields?
For most leasehold sales in Southfields conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange questions
- Where consent is required before sale in Southfields
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Southfields. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.
An example of a Lease Extension case for a Southfields premises is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case related to 1 flat. The unexpired lease term was 69.32 years.
Southfields Leasehold Conveyancing - Sample of Questions you should consider before buying
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Make sure you find out if there are any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in in a block in Southfields. If you love the flatin Southfields but your dog is not allowed to make the move with you then you will be faced hard compromise.