Recently asked questions relating to Heston leasehold conveyancing
Harry (my fiance) and I may need to rent out our Heston 1st floor flat for a while due to a career opportunity. We instructed a Heston conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Heston do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Heston. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Heston ?
The majority of houses in Heston are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Heston so you should seriously consider looking for a Heston conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
Last month I purchased a leasehold property in Heston. 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 175000 garden flat in Heston on Friday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Heston?
For most leasehold sales in Heston conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Heston
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Heston. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Heston conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Heston residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired lease term was 60.45 years.
What makes a Heston lease problematic?
There is nothing unique about leasehold conveyancing in Heston. Most leases are unique and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- 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
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
I own a studio flat in Heston, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent flats in Heston with over 90 years remaining are worth £178,000. The ground rent is £60 levied per year. The lease ceases on 21st October 2082
With only 56 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.