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Gerrards Cross leasehold conveyancing Example Support Desk Enquiries

I wish to rent out my leasehold flat in Gerrards Cross. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Gerrards Cross do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Gerrards Cross. I now wish to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. On the whole a specialist would be helpful to carry out a search and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Gerrards Cross.

I am tempted by the attractive purchase price for a two flats in Gerrards Cross which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Gerrards Cross. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Gerrards Cross from the point of view of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Gerrards Cross can be reduced if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Gerrards Cross state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals to hand do not contact the landlord without checking with your lawyer in advance.
  • If you have had any disputes with your landlord or managing agents it is essential 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 may need to swallow your pride and pay any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming process and delays many a Gerrards Cross conveyancing deal. Where a reissued share certificate is needed, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We expect to complete the disposal of our £175000 flat in Gerrards Cross next week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Gerrards Cross?

    Gerrards Cross conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.

    Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Gerrards Cross. Can we issue an application to the Residential Property Tribunal Service?

    Most certainly. We can put you in touch with a Gerrards Cross conveyancing firm who can help.

    An example of a Lease Extension case for a Gerrards Cross residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The the unexpired residue of the current lease was 71 years.

    Other Topics

    Lease Extensions in Gerrards Cross