Top Five Questions relating to Tufnell Park leasehold conveyancing
I am on look out for some leasehold conveyancing in Tufnell Park. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Tufnell Park - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My partner and I may need to rent out our Tufnell Park 1st floor flat temporarily due to taking a sabbatical. We instructed a Tufnell Park conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Tufnell Park do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Tufnell Park. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Tufnell Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Tufnell Park in which case you should be shopping around for a Tufnell Park conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.
Do you have any top tips for leasehold conveyancing in Tufnell Park from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Tufnell Park can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Tufnell Park leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you fail to have the approvals in place do not contact the landlord without contacting your conveyancer in advance.
Completion in due on our sale of a £475000 maisonette in Tufnell Park next Wednesday . The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Tufnell Park?
Tufnell Park conveyancing on leasehold maisonettes often requires the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you if you want to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Tufnell Park conveyancing firm to act on my behalf?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Tufnell Park flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The unexpired lease term was 64.77 years.