Warlingham leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Warlingham. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Warlingham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My partner and I may need to sub-let our Warlingham 1st floor flat temporarily due to taking a sabbatical. We used a Warlingham conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Warlingham do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Warlingham. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Warlingham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Warlingham so you should seriously consider looking for a Warlingham conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I am looking at a couple of flats in Warlingham both have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Warlingham is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most buyers and mortgage companies, leases with less than eighty 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 property 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 a residence 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 Warlingham 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
We expect to complete the sale of our £200000 garden flat in Warlingham next week. The management company has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Warlingham?
Warlingham conveyancing on leasehold apartments usually involves administration charges levied by managing agents :
- Answering pre-contract questions
- Where consent is required before sale in Warlingham
- 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 inherited a ground flat in Warlingham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
You certainly can. We are happy to put you in touch with a Warlingham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Warlingham flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The remaining number of years on the lease was 78.32 years.
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