Frequently asked questions relating to Stoke Newington leasehold conveyancing
I am intending to sublet my leasehold apartment in Stoke Newington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Stoke Newington conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I only have Seventy years remaining on my flat in Stoke Newington. I am keen to extend my lease but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be helpful to carry out a search and to produce an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Stoke Newington.
My wife and I purchased a leasehold flat in Stoke Newington. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Stoke Newington who previously acted has now retired.What should I do?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Stoke Newington conveyancing practitioner 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 freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325000 apartment in Stoke Newington next Friday . The freeholder has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stoke Newington?
Stoke Newington conveyancing on leasehold apartments often necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to do so. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Stoke Newington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.
An example of a Lease Extension matter before the tribunal for a Stoke Newington residence is Lower Flat 16A Beatty Road in September 2012. The premium payable was £13,577. The terms of the lease has been agreed between the Applicants and the First Respondent and the Tribunal did not seek to disturb that agreement. This case affected 1 flat.
What are the common deficiencies that you witness in leases for Stoke Newington properties?
There is nothing unique about leasehold conveyancing in Stoke Newington. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses 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
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Nottingham Building Society 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, forcing the buyer to pull out.
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