Questions and Answers: Tottenham Green leasehold conveyancing
I would like to sublet my leasehold apartment in Tottenham Green. 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 last Tottenham Green conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or some other party before subletting. The net result is that you cannot sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I am tempted by the attractive purchase price for a two apartments in Tottenham Green both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
Can you offer any advice when it comes to appointing a Tottenham Green conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Tottenham Green conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Tottenham Green conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 apartment in Tottenham Green on Monday in a week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Tottenham Green?
For most leasehold sales in Tottenham Green conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract questions
- Where consent is required before sale in Tottenham Green
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Tottenham Green. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Tottenham Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Tottenham Green residence is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 74.13 years.
What are the common defects that you come across in leases for Tottenham Green properties?
There is nothing unique about leasehold conveyancing in Tottenham Green. Most leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements 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
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.