Sample questions relating to Upton Park leasehold conveyancing
Harry (my fiance) and I may need to let out our Upton Park ground floor flat for a while due to taking a sabbatical. We instructed a Upton Park conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Upton Park 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 dictates 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 am hoping to complete next month on a garden flat in Upton Park. Conveyancing lawyers assured me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Upton Park should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
I am tempted by the attractive purchase price for a two apartments in Upton Park both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Upton Park. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
Last month I purchased a leasehold flat in Upton Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
We expect to complete our sale of a £175000 garden flat in Upton Park next Tuesday . The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Upton Park?
Upton Park conveyancing on leasehold flats more often than not involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Upton Park. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Upton Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Upton Park premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.