Top Five Questions relating to Gunnersbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Gunnersbury. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Gunnersbury - then the leasehold title will always include the short particulars 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.
Helen (my wife) and I may need to rent out our Gunnersbury basement flat for a while due to taking a sabbatical. We used a Gunnersbury conveyancing practice in 2003 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?
The lease dictates relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Gunnersbury do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I’m about to sell my 2 bed apartment in Gunnersbury.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – Do I pay up?
It best that you clear 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 management companies 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold flat in Gunnersbury. Conveyancing and HSBC Bank mortgage organised. 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 1994. The conveyancing solicitor in Gunnersbury who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Gunnersbury conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We have reached the end of our tether in seeking a lease extension in Gunnersbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Gunnersbury conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Gunnersbury flat is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case affected 2 flats. The the number of years remaining on the existing lease(s) was 64.64 years.
What makes a Gunnersbury lease unmortgageable?
There is nothing unique about leasehold conveyancing in Gunnersbury. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.