Common questions relating to Wallington leasehold conveyancing
Helen (my wife) and I may need to sub-let our Wallington ground floor flat temporarily due to a career opportunity. We used a Wallington conveyancing firm in 2003 but they have closed 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?
Notwithstanding that your previous Wallington conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 62 years left on my lease in Wallington. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, 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. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. On the whole a specialist may be useful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Wallington.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Wallington. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in Wallington are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Wallington in which case you should be looking for a Wallington conveyancing solicitor and check that they have experience in advising on 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 to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I am looking at a couple of apartments in Wallington which have about fifty years unexpired on the leases. should I be concerned?
There are plenty of short leases in Wallington. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
I am a negotiator for a long established estate agency in Wallington where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Wallington conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Wallington conveyancing firm to assist?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Freehold Enfranchisement case for a Wallington premises is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 72 years.