Borough Green leasehold conveyancing: Q and A’s
My fiance and I may need to let out our Borough Green ground floor flat for a while due to a career opportunity. We instructed a Borough Green conveyancing practice in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Borough Green do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Looking forward to sign contracts shortly on a studio apartment in Borough Green. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Borough Green should include some of the following:
- You should receive a copy of the lease
Back In 2002, I bought a leasehold flat in Borough Green. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Borough Green who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Borough Green conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Borough Green. Do I have any liability for service charges relating to a period prior to 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).
I am employed by a reputable estate agent office in Borough Green where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Borough Green conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
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. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
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.
Leasehold Conveyancing in Borough Green - Examples of Queries before Purchasing
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If a Borough Green lease has fewer than 80 years it will impact the value of the property. Check with your lender that they are content with residual term of the lease. A short lease means that you will most likely need a lease extension at some point and it is worth finding out how much this will be. For most Borough Greenlease extensions you will need to own the property for two years before you are eligible to exercise a lease extension.
The answer will be helpful as a) areas could result in problems for the block as the communal areas may begin to deteriorate where repairs remain unpaid b) if the tenants have an issue with the managing agents you will want to have all the details
On the whole the cost for major works are not incorporated into the service charges, although some managing agents in Borough Green obliged tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works.
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