Canary Wharf leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Canary Wharf. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Canary Wharf - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Harry (my fiance) and I may need to sub-let our Canary Wharf basement flat for a while due to a career opportunity. We used a Canary Wharf conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Canary Wharf conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent must not not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
My wife and I purchased a leasehold house in Canary Wharf. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Canary Wharf who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Canary Wharf conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to appointing a Canary Wharf conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Canary Wharf conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Canary Wharf conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How many lease extensions have they conducted in Canary Wharf in the last twenty four months?
I am the proprietor of a basement flat in Canary Wharf. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Canary Wharf conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Canary Wharf flat is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 101.61 years.
What makes a Canary Wharf lease defective?
Leasehold conveyancing in Canary Wharf is not unique. Most leases are unique and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- 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
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and TSB all have express 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 problematic they may refuse to grant the mortgage, obliging the buyer to pull out.