Fixed-fee leasehold conveyancing in Upper Clapton:

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Upper Clapton leasehold conveyancing: Q and A’s

Frank (my husband) and I may need to rent out our Upper Clapton ground floor flat temporarily due to a new job. We instructed a Upper Clapton conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Upper Clapton conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Upper Clapton. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Upper Clapton ?

Most houses in Upper Clapton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Upper Clapton so you should seriously consider looking for a Upper Clapton conveyancing practitioner and check that they have experience in dealing with 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 comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

I am tempted by the attractive purchase price for a couple of maisonettes in Upper Clapton which have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Upper Clapton from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Upper Clapton can be avoided where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
  • Some Upper Clapton leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 clearly preferable to present the dispute as over as opposed to ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and delays many a Upper Clapton home move. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • We expect to complete the sale of our £350000 maisonette in Upper Clapton in just under a week. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Upper Clapton?

    Upper Clapton conveyancing on leasehold apartments often involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information 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 sent together with a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.

    I am the leaseholder of a two-bedroom flat in Upper Clapton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    Most certainly. We can put you in touch with a Upper Clapton conveyancing firm who can help.

    An example of a Lease Extension decision for a Upper Clapton flat is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case affected 1 flat. The unexpired term was 59 years.

    Other Topics

    Lease Extensions in Upper Clapton