Examples of recent questions relating to leasehold conveyancing in Honor Oak
Having had my offer accepted I require leasehold conveyancing in Honor Oak. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and most are in Honor Oak - 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 partner and I may need to sub-let our Honor Oak garden flat for a while due to a career opportunity. We used a Honor Oak conveyancing firm in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Honor Oak do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have recently realised that I have 72 years remaining on my lease in Honor Oak. I now want to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the freeholder. In some cases a specialist would be helpful to carry out a search and prepare a report to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Honor Oak.
Looking forward to complete next month on a studio apartment in Honor Oak. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Honor Oak should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I have given up trying to purchase the freehold in Honor Oak. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Lease Extension decision for a Honor Oak residence 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.
What are the common deficiencies that you come across in leases for Honor Oak properties?
Leasehold conveyancing in Honor Oak is not unique. All leases are unique and legal mistakes in the legal wording 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 building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.
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