Common questions relating to Tooting Bec leasehold conveyancing
My husband and I may need to let out our Tooting Bec garden flat for a while due to a new job. We instructed a Tooting Bec conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Tooting Bec do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse 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.
Estate agents have just been given the go-ahead to market my garden flat in Tooting Bec.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – Do I pay up?
It best that you pay the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold house in Tooting Bec. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to finding a Tooting Bec conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Tooting Bec conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Tooting Bec conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- Can they put you in touch with client in Tooting Bec who can give a testimonial?
- What are the charges for lease extension conveyancing?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 250000 apartment in Tooting Bec in nine days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> 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 Tooting Bec?
Tooting Bec conveyancing on leasehold maisonettes nine out of ten times necessitates administration charges levied by managing agents :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Tooting Bec
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Tooting Bec conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Tooting Bec conveyancing firm who can help.
An example of a Lease Extension decision for a Tooting Bec residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The unexpired term was 62.94 years.
Tooting Bec Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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If a Tooting Bec lease has less than 80 years it will have adverse implications on the value of the property. It is worth checking with your lender that they are happy with remaining years on the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you will need to own the premises for 24 months before you are entitled to extend the lease.
Are any of leasehold owners in dispute over their service charge payments?