Eltham leasehold conveyancing: Q and A’s
I would like to let out my leasehold apartment in Eltham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Eltham conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.
I am hoping to sign contracts shortly on a garden flat in Eltham. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Eltham should include some of the following:
- You should be sent a copy of the lease
I own a leasehold flat in Eltham. Conveyancing and Alliance & Leicester mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Eltham who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Eltham conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two maisonettes in Eltham both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
I am a negotiator for a long established estate agency in Eltham where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Eltham conveyancing solicitors. Please can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
My wife and I have hit a brick wall in trying to purchase the freehold in Eltham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Eltham property 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.