Guaranteed fixed fees for Leasehold Conveyancing in Elm Park

When it comes to leasehold conveyancing in Elm Park, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their panel. Find a Elm Park conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Elm Park

Having had my offer accepted I require leasehold conveyancing in Elm Park. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Elm Park - 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 Elm Park basement flat for a while due to taking a sabbatical. We used a Elm Park conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Elm Park conveyancing lawyer is no longer around you can review your lease to check if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or some other party prior to subletting. This means that you cannot sublet without prior consent. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I have recently realised that I have 72 years remaining on my lease in Elm Park. I am keen to get lease extension but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Elm Park.

I work for a reputable estate agent office in Elm Park where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Elm Park conveyancing solicitors. Please can you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

I am the registered owner of a ground floor flat in Elm Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

Most definitely. We can put you in touch with a Elm Park conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Elm Park premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the unexpired term as at the valuation date was 57.5 years.

What are the frequently found defects that you see in leases for Elm Park properties?

Leasehold conveyancing in Elm Park is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain parts of the property
  • Insurance obligations
  • A provision for the recovery of money spent for the benefit of another party.
  • Service charge per centages that don't add up correctly leaving a shortfall

You will 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. HSBC Bank, Skipton 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 grant the mortgage, obliging the buyer to pull out.

Other Topics

Lease Extensions in Elm Park