Stockwell leasehold conveyancing Example Support Desk Enquiries
I would like to let out my leasehold flat in Stockwell. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your previous Stockwell conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or some other party before subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.
I have recently realised that I have 72 years remaining on my flat in Stockwell. I am keen to get lease extension but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, 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 lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Stockwell.
I have just started marketing my basement flat in Stockwell.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Stockwell. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Stockwell are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Stockwell in which case you should be looking for a Stockwell conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I am looking at a two flats in Stockwell both have in the region of fifty years remaining on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
My wife and I have hit a brick wall in trying to purchase the freehold in Stockwell. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the price payable.
An example of a Freehold Enfranchisement decision for a Stockwell residence is 3 Tintern Street in February 2010. The tribunal had jurisdiction to make a decision on the price of the freehold of the subject premises and concluded that the premium should be £24,630.00 This case related to 2 flats. The unexpired term was 73.69 years.