Questions and Answers: Southfields leasehold conveyancing
I am on look out for some leasehold conveyancing in Southfields. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% 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.
I wish to sublet my leasehold flat in Southfields. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Southfields do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Back In 2004, I bought a leasehold flat in Southfields. Conveyancing and Nationwide Building Society 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 solicitor in Southfields who acted for me is not around.Any advice?
First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Southfields conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Southfields. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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).
Can you offer any advice when it comes to choosing a Southfields conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Southfields conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Southfields conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If they are not ALEP accredited then why not?
- What volume of lease extensions has the firm completed in Southfields in the last year?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Southfields conveyancing firm to assist?
Most certainly. We are happy to put you in touch with a Southfields conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Southfields flat 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 affected 1 flat. The unexpired lease term was 69.32 years.
I am the registered owner of a studio flat in Southfields, conveyancing was carried out in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Southfields with an extended lease are worth £198,000. The ground rent is £55 per annum. The lease finishes on 21st October 2095
You have 69 years left to run we estimate the premium for your lease extension to be between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.