Questions and Answers: Sutton leasehold conveyancing
There are only Fifty years unexpired on my lease in Sutton. I now want to get lease extension but my freeholder is absent. 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 lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Sutton.
I’m about to sell my 2 bed flat in Sutton.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?
It best that you pay 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 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. This will smooth the conveyancing process.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Sutton. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Sutton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Sutton so you should seriously consider shopping around for a Sutton conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.
I work for a reputable estate agent office in Sutton where we have witnessed a few flat sales derailed as a result of short leases. I have been given contradictory information from local Sutton conveyancing solicitors. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Completion in due on the disposal of our £ 175000 apartment in Sutton next Tuesday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Sutton?
For the majority of leasehold sales in Sutton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Sutton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sutton. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Sutton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Sutton flat is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case related to 2 flats. The remaining number of years on the lease was 66.67 years.
I inherited a ground floor flat in Sutton, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Sutton with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2087
With just 61 years left to run we estimate the premium for your lease extension to be between £21,900 and £25,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.