Streatham leasehold conveyancing: Q and A’s
Harry (my fiance) and I may need to rent out our Streatham 1st floor flat temporarily due to a career opportunity. We used a Streatham conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Streatham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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 consent.
Planning to sign contracts shortly on a garden flat in Streatham. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Streatham should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Streatham. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Streatham ?
The majority of houses in Streatham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Streatham in which case you should be looking for a Streatham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
Do you have any advice for leasehold conveyancing in Streatham with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Streatham can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
- Many landlords or Management Companies in Streatham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Streatham.
Completion in due on our sale of a £325000 maisonette in Streatham in just under a week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Streatham?
Streatham conveyancing on leasehold flats normally requires the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to sell the property.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Streatham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the price.
An example of a Lease Extension case for a Streatham flat is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 23.25 years.