Recently asked questions relating to Temple Fortune leasehold conveyancing
I would like to let out my leasehold apartment in Temple Fortune. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Temple Fortune conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you must seek consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
Having checked my lease I have discovered that there are only Sixty One years remaining on my lease in Temple Fortune. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
If 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 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 demonstrate that you have made all reasonable attempts to locate the freeholder. On the whole a specialist should be helpful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the application to the County Court overseeing Temple Fortune.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Temple Fortune. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Temple Fortune ?
Most houses in Temple Fortune are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Temple Fortune so you should seriously consider looking for a Temple Fortune conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
I am tempted by the attractive purchase price for a couple of flats in Temple Fortune both have in the region of 50 years unexpired on the lease term. should I be concerned?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £325000 apartment in Temple Fortune in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Temple Fortune?
Temple Fortune conveyancing on leasehold apartments usually requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to sell the property.
My wife and I have hit a brick wall in trying to purchase the freehold in Temple Fortune. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Temple Fortune conveyancing firm who can help.
An example of a Lease Extension decision for a Temple Fortune property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 76 years.
Other Topics