Questions and Answers: Kingston upon Thames leasehold conveyancing
I am on look out for some leasehold conveyancing in Kingston upon Thames. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Kingston upon Thames - 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.
I would like to sublet my leasehold flat in Kingston upon Thames. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Kingston upon Thames conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without prior consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
I am hoping to complete next month on a garden flat in Kingston upon Thames. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Kingston upon Thames 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 the 80 year mark
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure 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 particular concerns buying a leasehold house in Kingston upon Thames. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Kingston upon Thames are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Kingston upon Thames in which case you should be shopping around for a Kingston upon Thames conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I am tempted by the attractive purchase price for a couple of flats in Kingston upon Thames which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
I inherited a first floor flat in Kingston upon Thames. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension decision for a Kingston upon Thames flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.