Tokyngton leasehold conveyancing: Q and A’s
Frank (my husband) and I may need to let out our Tokyngton 1st floor flat temporarily due to a new job. We used a Tokyngton conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Tokyngton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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 permission.
I have just started marketing my basement apartment in Tokyngton.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear 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 managing agents 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 seems to be perfect, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Tokyngton. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Tokyngton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Tokyngton so you should seriously consider shopping around for a Tokyngton conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
Back In 2005, I bought a leasehold flat in Tokyngton. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Tokyngton who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Tokyngton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Tokyngton conveyancing firm to represent me?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Tokyngton flat is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 74 years.
Are there common deficiencies that you come across in leases for Tokyngton properties?
There is nothing unique about leasehold conveyancing in Tokyngton. All leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Leeds Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I inherited a leasehold flat in Tokyngton, conveyancing was carried out in 2004. How much will my lease extension cost? Equivalent properties in Tokyngton with over 90 years remaining are worth £248,000. The ground rent is £60 yearly. The lease finishes on 21st October 2102
With just 76 years remaining on your lease we estimate the price of your lease extension to span between £10,500 and £12,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.