Fixed-fee leasehold conveyancing in Oakwood:

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Recently asked questions relating to Oakwood leasehold conveyancing

I want to let out my leasehold apartment in Oakwood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Notwithstanding that your last Oakwood conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior permission. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I have recently realised that I have Sixty One years unexpired on my flat in Oakwood. I am keen to extend my lease but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. In some cases a specialist may be useful to try and locate and prepare an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Oakwood.

What are your top tips when it comes to appointing a Oakwood conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Oakwood conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Oakwood conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Can you provide any top tips for leasehold conveyancing in Oakwood from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Oakwood can be reduced if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
    • Many freeholders or Management Companies in Oakwood levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Oakwood.
  • A minority of Oakwood leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and delays many a Oakwood conveyancing transaction. Where a new share is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Oakwood lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Oakwood. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Oakwood Leasehold Conveyancing - Examples of Queries before Purchasing

      What prohibitions are there in the Oakwood Lease? Is anyone aware of any major works in the planning that will add a premium to the maintenance costs? On the whole the cost for major works are not included within service charges, albeit that there some managing agents in Oakwood ask tenants to contribute towards a sinking fund created for the specific purpose of establishing a fund for major works.

    Other Topics

    Lease Extensions in Oakwood