Questions and Answers: Tokyngton leasehold conveyancing
I only have 72 years remaining on my flat in Tokyngton. I need to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, 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 extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Tokyngton.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Tokyngton. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Tokyngton are freehold rather than 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 have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
Can you offer any advice when it comes to finding a Tokyngton conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Tokyngton conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Tokyngton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the practice with lease extension legislation?
All being well we will complete the sale of our £475000 apartment in Tokyngton in just under a week. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Tokyngton?
Tokyngton conveyancing on leasehold apartments often necessitates the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to sell the property.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Tokyngton conveyancing firm to assist?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the premium.
An example of a Lease Extension matter before the tribunal for a Tokyngton premises 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 related to 1 flat. The unexpired term was 74 years.
What makes a Tokyngton lease problematic?
Leasehold conveyancing in Tokyngton is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may 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. Barclays , Leeds Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.