Frequently asked questions relating to Fortis Green leasehold conveyancing
Jane (my partner) and I may need to rent out our Fortis Green basement flat for a while due to a career opportunity. We used a Fortis Green conveyancing firm in 2001 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?
Your lease governs relations between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Fortis Green do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Expecting to sign contracts shortly on a ground floor flat in Fortis Green. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Fortis Green should include some of the following:
- The unexpired 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
Estate agents have just been given the go-ahead to market my garden flat in Fortis Green.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – Do I pay up?
The sensible thing to do is discharge the invoice 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 unless 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.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Fortis Green. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Fortis Green ?
The majority of houses in Fortis Green are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Fortis Green so you should seriously consider shopping around for a Fortis Green conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
I am tempted by the attractive purchase price for a couple of maisonettes in Fortis Green both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Fortis Green. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Fortis Green. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Fortis Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Fortis Green property is 21 St Matthews Court Coppetts Road in February 2013. the applicant applied to the Tribunal for a determination of the premium payable for a lease extension pursuant to Section 48 of the Leasehold Reform (Housing and Urban Development ) Act 1993. The tribunal therefore ordered that the premium was to be £13,267. This case affected 1 flat. The the unexpired residue of the current lease was 68 years.