Examples of recent questions relating to leasehold conveyancing in Bethnal Green
My wife and I may need to rent out our Bethnal Green 1st floor flat for a while due to a new job. We instructed a Bethnal Green conveyancing practice in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Bethnal Green do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests 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 permission.
Back In 2008, I bought a leasehold house in Bethnal Green. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Bethnal Green who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Bethnal Green conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Bethnal Green where we have witnessed a few leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Bethnal Green conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. 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 needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 garden flat in Bethnal Green in 8 days. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Bethnal Green?
For the majority of leasehold sales in Bethnal Green conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Bethnal Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Bethnal Green. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension case for a Bethnal Green residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 72.39 years.
Are there frequently found problems that you encounter in leases for Bethnal Green properties?
There is nothing unique about leasehold conveyancing in Bethnal Green. All leases is drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and Alliance & Leicester all have very detailed conveyancing instructions 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 provide security, obliging the purchaser to pull out.
Other Topics