Recently asked questions relating to Turnpike Lane leasehold conveyancing
I wish to sublet my leasehold flat in Turnpike Lane. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Turnpike Lane do contain a provision to say that subletting is only allowed with permission. 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 consent.
I have recently realised that I have Sixty One years unexpired on my lease in Turnpike Lane. I now want to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have done all that could be expected to find the lessor. On the whole an enquiry agent would be useful to conduct investigations and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Turnpike Lane.
Estate agents have just been given the go-ahead to market my basement apartment in Turnpike Lane.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 until 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 am attracted to a couple of maisonettes in Turnpike Lane both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
I am the proprietor of a a ground floor purpose built flat in Turnpike Lane. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension case for a Turnpike Lane residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.
When it comes to leasehold conveyancing in Turnpike Lane what are the most common lease defects?
Leasehold conveyancing in Turnpike Lane is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- 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
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Virgin Money, and Aldermore all have express requirements 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 provide security, forcing the buyer to withdraw.