Leasehold Conveyancing in De Beauvoir Town - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in De Beauvoir Town, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Nationwide make sure you choose a lawyer on their approved list. Find a De Beauvoir Town conveyancing lawyer with our search tool

Common questions relating to De Beauvoir Town leasehold conveyancing

I am in need of some leasehold conveyancing in De Beauvoir Town. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in De Beauvoir Town - 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.

Frank (my husband) and I may need to rent out our De Beauvoir Town 1st floor flat temporarily due to taking a sabbatical. We used a De Beauvoir Town conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in De Beauvoir Town do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I own a leasehold flat in De Beauvoir Town. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in De Beauvoir Town who previously acted has now retired.Any advice?

First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a De Beauvoir Town conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. 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 am tempted by the attractive purchase price for a couple of maisonettes in De Beauvoir Town both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in De Beauvoir Town is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with De Beauvoir Town conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any advice for leasehold conveyancing in De Beauvoir Town from the point of view of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in De Beauvoir Town can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
  • The majority landlords or managing agents in De Beauvoir Town charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in De Beauvoir Town.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in De Beauvoir Town state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you dont have the consents in place do not communicate with the landlord without contacting your conveyancer in advance.
  • Some De Beauvoir Town leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to 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 details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.

  • After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in De Beauvoir Town. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We can put you in touch with a De Beauvoir Town conveyancing firm who can help.

    An example of a Lease Extension case for a De Beauvoir Town flat is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the unexpired residue of the current lease was 80.5 years.

    Other Topics

    Lease Extensions in De Beauvoir Town