Common questions relating to Gants Hill leasehold conveyancing
I want to sublet my leasehold flat in Gants Hill. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Gants Hill conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I am attracted to a couple of flats in Gants Hill both have approximately 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 Gants Hill is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most purchasers and lenders, leases with under 75 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 premises 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 Gants Hill 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 the agreed 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.
I've recently bought a leasehold property in Gants Hill. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
If all goes to plan we aim to complete our sale of a £475000 flat in Gants Hill in just under a week. The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Gants Hill?
Gants Hill conveyancing on leasehold apartments ordinarily results in administration charges raised by landlords agents :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Gants Hill
- 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 have given up seeking a lease extension in Gants Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee landlord or where there is disagreement 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 Leasehold Valuation Tribunal to calculate the amount due.
An example of a Freehold Enfranchisement decision for a Gants Hill residence is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The the unexpired term as at the valuation date was 65 and 61.
What are the frequently found deficiencies that you encounter in leases for Gants Hill properties?
Leasehold conveyancing in Gants Hill is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.
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