Examples of recent questions relating to leasehold conveyancing in Upper Norwood
I am intending to let out my leasehold flat in Upper Norwood. 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 previous Upper Norwood conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining consent. The consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I own a leasehold flat in Upper Norwood. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Upper Norwood who acted for me is not around.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Upper Norwood conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a reputable estate agent office in Upper Norwood where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Upper Norwood conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What are your top tips when it comes to choosing a Upper Norwood conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Upper Norwood conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Upper Norwood conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
- What volume of lease extensions have they completed in Upper Norwood in the last year?
Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Upper Norwood. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Upper Norwood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Upper Norwood flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case related to 1 flat. The unexpired lease term was 26.38 years.
What are the frequently found defects that you witness in leases for Upper Norwood properties?
Leasehold conveyancing in Upper Norwood is not unique. All leases is drafted differently and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Chelsea Building Society, and Barclays Direct 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 is defective they may refuse to provide security, forcing the buyer to pull out.
Upper Norwood Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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How many years are left on the lease?