Top Five Questions relating to Upper Walthamstow leasehold conveyancing
My husband and I may need to let out our Upper Walthamstow 1st floor flat temporarily due to a new job. We instructed a Upper Walthamstow 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 Upper Walthamstow do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Upper Walthamstow. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Upper Walthamstow are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Upper Walthamstow so you should seriously consider looking for a Upper Walthamstow conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.
Back In 2002, I bought a leasehold house in Upper Walthamstow. Conveyancing and Nationwide Building Society mortgage are in place. 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 1995. The conveyancing practitioner in Upper Walthamstow who previously acted has long since retired.What should I do?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Upper Walthamstow conveyancing firm 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 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Upper Walthamstow. Am I liable to pay service charges for periods before my ownership?
In a situation 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 ensure 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).
Can you provide any advice for leasehold conveyancing in Upper Walthamstow from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Upper Walthamstow can be avoided where you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers representatives.
- The majority freeholders or managing agents in Upper Walthamstow levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Upper Walthamstow.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Upper Walthamstow conveyancing firm to assist?
Most definitely. We are happy to put you in touch with a Upper Walthamstow conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Upper Walthamstow premises is 32 Howard Road in June 2012. the Tribunal held that premium payable for the freehold reversion should be £35,825 This case related to 2 flats. The remaining number of years on the lease was 64 years.