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Top Five Questions relating to Cubitt Town leasehold conveyancing

I am on look out for some leasehold conveyancing in Cubitt Town. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Cubitt Town - then the leasehold title will always include the basic details 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.

I am intending to rent out my leasehold flat in Cubitt Town. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Cubitt Town conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to seek permission from your landlord or some other party prior to subletting. The net result is that you cannot sublet without first obtaining consent. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

Expecting to exchange soon on a garden flat in Cubitt Town. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Cubitt Town should include some of the following:

  • Setting out your rights in relation to the communal areas in the block.By way of example, does the lease permit a right of way over a path or hallways?
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • Changes to the flat (alterations and additions)
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Cubitt Town please enquire of your conveyancer in advance of your conveyancing in Cubitt Town

    • What are your top tips when it comes to appointing a Cubitt Town conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Cubitt Town conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Cubitt Town conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any top tips for leasehold conveyancing in Cubitt Town with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cubitt Town can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Cubitt Town levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Cubitt Town.
  • A minority of Cubitt Town leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the proprietor of a basement flat in Cubitt Town. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

    in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the price.

    An example of a Freehold Enfranchisement decision for a Cubitt Town property 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 was in relation to 3 flats. The the unexpired term as at the valuation date was 101.61 years.

    Other Topics

    Lease Extensions in Cubitt Town