Recently asked questions relating to Ruislip Manor leasehold conveyancing
My wife and I may need to let out our Ruislip Manor ground floor flat temporarily due to taking a sabbatical. We used a Ruislip Manor conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Ruislip Manor do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am tempted by the attractive purchase price for a couple of maisonettes in Ruislip Manor both have approximately fifty years left on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Ruislip Manor is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ruislip Manor conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I've recently bought a leasehold house in Ruislip Manor. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee 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).
What are your top tips when it comes to finding a Ruislip Manor conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Ruislip Manor conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Ruislip Manor conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
All being well we will complete the sale of our £300000 apartment in Ruislip Manor in just under a week. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ruislip Manor?
For most leasehold sales in Ruislip Manor conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Ruislip Manor
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Ruislip Manor conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Ruislip Manor conveyancing firm who can help.
An example of a Lease Extension decision for a Ruislip Manor premises is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The remaining number of years on the lease was 53.26 years.
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