Top Five Questions relating to Walthamstow leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Walthamstow garden flat for a while due to a career opportunity. We instructed a Walthamstow conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the landlord and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Walthamstow do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I’m about to sell my basement flat in Walthamstow.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2007, I bought a leasehold flat in Walthamstow. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Walthamstow who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Walthamstow conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two apartments in Walthamstow both have approximately fifty years left on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
I've recently bought a leasehold house in Walthamstow. 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 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 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).
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Walthamstow conveyancing firm to assist?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Walthamstow property is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The unexpired term was 72.02 years.