Top Five Questions relating to Wood Green leasehold conveyancing
There are only Sixty One years remaining on my flat in Wood Green. I now want to get lease extension but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be useful to carry out a search and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Wood Green.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Wood Green. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Wood Green are freehold rather than leasehold. In this scenario it’s worth 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 lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.
My wife and I purchased a leasehold flat in Wood Green. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Wood Green who previously acted has now retired.Do I pay?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Wood Green conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Wood Green from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Wood Green can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Wood Green state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor in advance.
All being well we will complete the disposal of our £450000 garden flat in Wood Green next Friday . The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wood Green?
Wood Green conveyancing on leasehold apartments usually involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I have had difficulty in trying to purchase the freehold in Wood Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or if 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 Leasehold Valuation Tribunal to determine the price payable.
An example of a Lease Extension case 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 unexpired term was 81.79 years.