Examples of recent questions relating to leasehold conveyancing in Surrey Quays
I wish to sublet my leasehold flat in Surrey Quays. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Your lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Surrey Quays do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Surrey Quays. I now want to extend my lease but my freeholder is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. In some cases an enquiry agent would be useful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Surrey Quays.
I have just appointed agents to market my basement apartment in Surrey Quays.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?
It best that you pay the invoice 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 management companies will not acknowledge the buyer unless 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.
Back In 2006, I bought a leasehold flat in Surrey Quays. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Surrey Quays who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Surrey Quays conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two maisonettes in Surrey Quays both have in the region of 50 years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Surrey Quays is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Surrey Quays conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a two-bedroom flat in Surrey Quays. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to judgment on the sum to be paid.
An example of a Freehold Enfranchisement case for a Surrey Quays property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the unexpired term as at the valuation date was 101.61 years.