Common questions relating to Westcombe Park leasehold conveyancing
Helen (my wife) and I may need to sub-let our Westcombe Park basement flat temporarily due to a new job. We used a Westcombe Park conveyancing practice in 2003 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 Westcombe Park conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
I’m about to sell my ground floor flat in Westcombe Park.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Westcombe Park. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Westcombe Park ?
The majority of houses in Westcombe Park are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Westcombe Park in which case you should be looking for a Westcombe Park conveyancing solicitor and check that they have experience in 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 entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.
I am a negotiator for a reputable estate agent office in Westcombe Park where we have experienced a few flat sales jeopardised as a result of short leases. I have been given contradictory information from local Westcombe Park conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
If all goes to plan we aim to complete the sale of our £ 475000 apartment in Westcombe Park on Thursday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Westcombe Park?
Westcombe Park conveyancing on leasehold flats usually requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Westcombe Park conveyancing firm to represent me?
Absolutely. We can put you in touch with a Westcombe Park conveyancing firm who can help.
An example of a Lease Extension decision for a Westcombe Park residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case was in relation to 2 flats. The remaining number of years on the lease was 72 years.
I inherited a garden flat in Westcombe Park, conveyancing formalities finalised 2006. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Westcombe Park with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2096
You have 70 years left to run the likely cost is going to span between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.