I want to sublet my leasehold apartment in City Of London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Even though your last City Of London conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of prior consent. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I only have Seventy years unexpired on my lease in City Of London. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole an enquiry agent may be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing City Of London.

I own a leasehold house in City Of London. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in City Of London who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a City Of London conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in City Of London which have in the region of 50 years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold property in City Of London. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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 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).

City Of London Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Its a good idea to find out as much as you can concerning the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily issues like the tidiness of the communal areas. Ask other tenants what they think of their service. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. Please note if it is fewer than 80 years it will have adverse implications on the value of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you will be required to have been the owner of the property for 24 months before you are eligible to extend the lease. Is there a share of the freehold?

Other Topics

Lease Extensions in City Of London