Sample questions relating to Foots Cray leasehold conveyancing
I am in need of some leasehold conveyancing in Foots Cray. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Foots Cray - 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.
My fiance and I may need to sub-let our Foots Cray ground floor flat for a while due to taking a sabbatical. We instructed a Foots Cray conveyancing practice in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A lease governs relations between the freeholder and you the leaseholder; specifically, it will set out 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. The majority of leases in Foots Cray do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Estate agents have just been given the go-ahead to market my 2 bed flat in Foots Cray.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Foots Cray. Conveyancing and Skipton Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Foots Cray who previously acted has now retired.Do I pay?
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 Foots Cray conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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.
After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Foots Cray. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Foots Cray conveyancing firm who can help.
An example of a Lease Extension case for a Foots Cray 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.
What makes a Foots Cray lease unmortgageable?
Leasehold conveyancing in Foots Cray is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair 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.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Clydesdale 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 withdraw.