Fixed-fee leasehold conveyancing in Beddington:

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Top Five Questions relating to Beddington leasehold conveyancing

My fiance and I may need to let out our Beddington ground floor flat temporarily due to a new job. We instructed a Beddington conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Beddington do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Looking forward to complete next month on a basement flat in Beddington. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Beddington should include some of the following:

  • Defining your rights in relation to common areas in the block.E.G., does the lease permit a right of way over a path or staircase?
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in Beddington please enquire of your solicitor in ahead of your conveyancing in Beddington

    • I’m about to sell my ground floor apartment in Beddington.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – Do I pay up?

    The sensible thing to do is discharge the service charge 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 until 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 tempted by the attractive purchase price for a two flats in Beddington both have about fifty years left on the leases. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

    I am employed by a reputable estate agent office in Beddington where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Beddington conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 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 simultaneously with completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord 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.

    I have had difficulty in negotiating a lease extension in Beddington. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a Beddington conveyancing firm who can help.

    An example of a Lease Extension case for a Beddington property is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The unexpired lease term was 69.46 years.

    Other Topics

    Lease Extensions in Beddington