Guaranteed fixed fees for Leasehold Conveyancing in Walton on the Hill

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Frequently asked questions relating to Walton on the Hill leasehold conveyancing

My wife and I may need to rent out our Walton on the Hill garden flat for a while due to a career opportunity. We used a Walton on the Hill conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Walton on the Hill conveyancing lawyer is not around you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining consent. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.

Expecting to sign contracts shortly on a garden flat in Walton on the Hill. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Walton on the Hill should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions) For details of the information to be included in your report on your leasehold property in Walton on the Hill please enquire of your solicitor in ahead of your conveyancing in Walton on the Hill

    • I am a negotiator for a long established estate agency in Walton on the Hill where we see a number of flat sales derailed due to short leases. I have been given contradictory information from local Walton on the Hill conveyancing firms. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

    Can you provide any top tips for leasehold conveyancing in Walton on the Hill from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Walton on the Hill can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Walton on the Hill levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought 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 common reason for delay in leasehold conveyancing in Walton on the Hill.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a new share certificate can be a lengthy formality and slows down many a Walton on the Hill home move. If a reissued share is needed, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We have reached the end of our tether in negotiating a lease extension in Walton on the Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Where there is a absentee freeholder 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 LVT to arrive at the sum to be paid.

    An example of a Lease Extension case for a Walton on the Hill flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The the unexpired residue of the current lease was 60.43 years.

    What makes a Walton on the Hill lease problematic?

    Leasehold conveyancing in Walton on the Hill is not unique. All leases are unique and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Walton on the Hill