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Examples of recent questions relating to leasehold conveyancing in Eltham

I want to sublet my leasehold apartment in Eltham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A lease dictates relations between the freeholder and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Eltham do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Planning to sign contracts shortly on a garden flat in Eltham. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Eltham should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Are pets allowed in the flat?
  • Whether the lease restricts you from letting out the flat, or having a home office for business
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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 For a comprehensive list of information to be included in your report on your leasehold property in Eltham please ask your lawyer in advance of your conveyancing in Eltham

    • Back In 2001, I bought a leasehold flat in Eltham. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Eltham who acted for me is not around.Do I pay?

    First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Eltham conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Do you have any top tips for leasehold conveyancing in Eltham from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Eltham can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
    • The majority landlords or managing agents in Eltham levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Eltham.
  • A minority of Eltham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a duplicate share certificate can be a lengthy process and delays many a Eltham conveyancing deal. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

    • I have given up trying to purchase the freehold in Eltham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We can put you in touch with a Eltham conveyancing firm who can help.

    An example of a Lease Extension decision for a Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.

    When it comes to leasehold conveyancing in Eltham what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Eltham. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • 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 could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and Bank of Ireland 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 defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Eltham