Thamesmead leasehold conveyancing: Q and A’s
I would like to sublet my leasehold flat in Thamesmead. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your previous Thamesmead conveyancing lawyer is not around you can check your lease to check if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without prior consent. Such consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
There are only 62 years remaining on my flat in Thamesmead. I am keen to get lease extension but my freeholder is can not be found. What are my options?
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 mean that your lease can be lengthened by the Court. You will be obliged to prove that you have done all that could be expected to locate the lessor. In some cases a specialist would be useful to try and locate and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Thamesmead.
I am hoping to exchange soon on a studio apartment in Thamesmead. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Thamesmead should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Defining your legal entitlements in relation to common areas in the block.E.G., does the lease include a right of way over a path or staircase?
- Whether the lease restricts you from renting out the property, or having a home office for business
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- What options are open to you if a neighbour is in violation of a provision in their lease?
I work for a reputable estate agent office in Thamesmead where we have experienced a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Thamesmead conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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.
Alternatively, it may be possible 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 buyer.
Can you offer any advice when it comes to choosing a Thamesmead conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Thamesmead conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Thamesmead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How many lease extensions have they completed in Thamesmead in the last 12 months?
- Can they put you in touch with client in Thamesmead who can give a testimonial?
I have given up trying to reach an agreement for a lease extension in Thamesmead. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Thamesmead conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Thamesmead premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The the number of years remaining on the existing lease(s) was 76 years.
I bought a studio flat in Thamesmead, conveyancing formalities finalised in 1996. Can you work out an approximate cost of a lease extension? Comparable flats in Thamesmead with a long lease are worth £266,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2093
With only 67 years left to run the likely cost is going to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.