Recently asked questions relating to Wood Green leasehold conveyancing
I wish to let out my leasehold flat in Wood Green. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Wood Green conveyancing solicitor is no longer available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Expecting to exchange soon on a studio apartment in Wood Green. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Wood Green should include some of the following:
- The physical extent of the premises. This will be the apartment itself but may incorporate a roof space or basement if applicable.
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wood Green. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Wood Green ?
Most houses in Wood Green 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. We note that you are purchasing in Wood Green so you should seriously consider shopping around for a Wood Green conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
I am tempted by the attractive purchase price for a couple of apartments in Wood Green which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Wood Green. The 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 reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold property in Wood Green. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. However, 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).
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wood Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Wood Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Wood Green 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 affected 1 flat. The remaining number of years on the lease was 81.79 years.
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