Examples of recent questions relating to leasehold conveyancing in Upney
Helen (my wife) and I may need to sub-let our Upney 1st floor flat temporarily due to a new job. We instructed a Upney conveyancing practice in 2002 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?
Some leases for properties in Upney 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 review references. Experience suggests 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.
Due to complete next month on a ground floor flat in Upney. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Upney should include some of the following:
- The physical extent of the premises. This will be the flat itself but could also incorporate a loft or cellar if appropriate.
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Upney. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Upney ?
The majority of houses in Upney are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Upney so you should seriously consider shopping around for a Upney conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
I work for a busy estate agent office in Upney where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Upney conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to choosing a Upney conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Upney conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Upney conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions has the firm conducted in Upney in the last year?
I own a basement flat in Upney. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension case for a Upney flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The remaining number of years on the lease was 61.36 years.
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