Questions and Answers: Winchmore Hill leasehold conveyancing
I am on look out for some leasehold conveyancing in Winchmore Hill. Before I get started I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Winchmore Hill - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My fiance and I may need to rent out our Winchmore Hill 1st floor flat temporarily due to a new job. We instructed a Winchmore Hill conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Even though your last Winchmore Hill conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I am looking at a couple of maisonettes in Winchmore Hill both have approximately fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Winchmore Hill. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
What advice can you give us when it comes to choosing a Winchmore Hill conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Winchmore Hill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Winchmore Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
All being well we will complete our sale of a £350000 apartment in Winchmore Hill on Thursday in a week. The managing agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Winchmore Hill?
Winchmore Hill conveyancing on leasehold flats often necessitates the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.
I am the registered owner of a basement flat in Winchmore Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Most certainly. We can put you in touch with a Winchmore Hill conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Winchmore Hill property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired lease term was 81.79 years.