Frequently asked questions relating to Waltham Abbey leasehold conveyancing
My wife and I may need to rent out our Waltham Abbey 1st floor flat for a while due to taking a sabbatical. We used a Waltham Abbey conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Waltham Abbey conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
Due to sign contracts shortly on a leasehold property in Waltham Abbey. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Waltham Abbey should include some of the following:
- Will you be prohibited or prevented from having pets in the property?
Estate agents have just been given the go-ahead to market my 2 bed flat in Waltham Abbey.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?
It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've recently bought a leasehold property in Waltham Abbey. Do I have any liability for 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).
All being well we will complete the disposal of our £475000 flat in Waltham Abbey in just under a week. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Waltham Abbey?
Waltham Abbey conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Waltham Abbey. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to assess the sum to be paid.
An example of a Freehold Enfranchisement case for a Waltham Abbey property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The the unexpired term as at the valuation date was 69.26 years.
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