Wennington leasehold conveyancing Example Support Desk Enquiries
My husband and I may need to sub-let our Wennington basement flat for a while due to a career opportunity. We instructed a Wennington conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Wennington conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without first obtaining consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I’m about to sell my ground floor apartment in Wennington.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 managing agents 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.
I am tempted by the attractive purchase price for a couple of maisonettes in Wennington both have in the region of fifty years left on the lease term. should I be concerned?
There are plenty of short leases in Wennington. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold house in Wennington. Am I liable to pay service charges for periods before completion of my purchase?
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. 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).
I am employed by a reputable estate agent office in Wennington where we see a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Wennington conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
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 tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Wennington conveyancing firm to help?
in cases where there is a absentee freeholder or where there is dispute 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.
An example of a Lease Extension case for a Wennington premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired term was 76 years.