Top Five Questions relating to Barnes Cray leasehold conveyancing
I would like to let out my leasehold flat in Barnes Cray. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Barnes Cray conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. The consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Expecting to exchange soon on a leasehold property in Barnes Cray. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Barnes Cray should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Last month I purchased a leasehold house in Barnes Cray. Am I liable to pay service charges relating to a period prior to my ownership?
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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
What are your top tips when it comes to appointing a Barnes Cray conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Barnes Cray conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Barnes Cray conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If they are not ALEP accredited then why not?
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in Barnes Cray. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Barnes Cray conveyancing firm who can help.
An example of a Lease Extension decision for a Barnes Cray premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term was 76 years.
When it comes to leasehold conveyancing in Barnes Cray what are the most common lease problems?
Leasehold conveyancing in Barnes Cray is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Skipton Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.