Frequently asked questions relating to East Dulwich leasehold conveyancing
I am in need of some leasehold conveyancing in East Dulwich. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in East Dulwich - 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.
Helen (my wife) and I may need to rent out our East Dulwich 1st floor flat temporarily due to taking a sabbatical. We used a East Dulwich 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?
Notwithstanding that your previous East Dulwich conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in East Dulwich. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in East Dulwich are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in East Dulwich so you should seriously consider shopping around for a East Dulwich conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should advise you fully on all the issues.
If all goes to plan we aim to complete the sale of our £225000 garden flat in East Dulwich next week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in East Dulwich?
East Dulwich conveyancing on leasehold maisonettes often requires the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.
I have given up seeking a lease extension in East Dulwich. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the price payable.
An example of a Lease Extension matter before the tribunal for a East Dulwich flat is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case related to 1 flat. The the unexpired term as at the valuation date was 61.81 years.
In relation to leasehold conveyancing in East Dulwich what are the most common lease problems?
Leasehold conveyancing in East Dulwich is not unique. All leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.