Sample questions relating to Forest Hill leasehold conveyancing
My partner and I may need to rent out our Forest Hill 1st floor flat for a while due to taking a sabbatical. We used a Forest Hill conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Forest Hill conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I own a leasehold flat in Forest Hill. Conveyancing and Britannia mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Forest Hill who acted for me is not around.Any advice?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Forest Hill conveyancing firm to do this as it can be done on-line 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.
I work for a busy estate agency in Forest Hill where we have experienced a number of leasehold sales derailed due to short leases. I have received contradictory information from local Forest Hill conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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.
Can you offer any advice when it comes to finding a Forest Hill conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Forest Hill conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Forest Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How familiar is the firm with lease extension legislation?
I have given up negotiating a lease extension in Forest Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Forest Hill 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 affected 1 flat. The the unexpired residue of the current lease was 61.81 years.
In relation to leasehold conveyancing in Forest Hill what are the most frequent lease problems?
Leasehold conveyancing in Forest Hill is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements 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
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.