Vauxhall leasehold conveyancing Example Support Desk Enquiries
Helen (my wife) and I may need to sub-let our Vauxhall 1st floor flat for a while due to a career opportunity. We used a Vauxhall conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Vauxhall do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Vauxhall. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Vauxhall ?
The majority of houses in Vauxhall are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Vauxhall so you should seriously consider shopping around for a Vauxhall conveyancing solicitor and check that they have experience in dealing with leasehold houses. First 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 freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
I am attracted to a two flats in Vauxhall both have approximately forty five years remaining on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold property in Vauxhall. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 the disposal of our £ 175000 flat in Vauxhall on Monday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Vauxhall?
Vauxhall conveyancing on leasehold maisonettes usually necessitates the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I own a ground floor flat in Vauxhall. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
Most certainly. We are happy to put you in touch with a Vauxhall conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Vauxhall property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired lease term was 56 years.
I purchased a 1 bedroom flat in Vauxhall, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Vauxhall with a long lease are worth £193,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2105
With 79 years left to run the likely cost is going to range between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.