Hampton leasehold conveyancing Example Support Desk Enquiries
Harry (my fiance) and I may need to rent out our Hampton basement flat temporarily due to taking a sabbatical. We used a Hampton conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Hampton conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or some other party prior to subletting. This means you not allowed to sublet without prior consent. Such consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I am hoping to complete next month on a studio apartment in Hampton. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Hampton should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I am attracted to a couple of apartments in Hampton which have about forty five years remaining on the lease term. should I be concerned?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
Can you offer any advice when it comes to finding a Hampton conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Hampton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Hampton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hampton conveyancing firm to act on my behalf?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension decision for a Hampton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.
In relation to leasehold conveyancing in Hampton what are the most frequent lease problems?
Leasehold conveyancing in Hampton is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts 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
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and Britannia 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, forcing the purchaser to pull out.