Sample questions relating to Ladywell leasehold conveyancing
I am on look out for some leasehold conveyancing in Ladywell. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Ladywell - 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 apartment in Ladywell. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Ladywell do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot 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.
Back In 2006, I bought a leasehold flat in Ladywell. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Ladywell who previously acted has now retired.What should I do?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Ladywell conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two maisonettes in Ladywell which have in the region of 50 years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area
What are your top tips when it comes to choosing a Ladywell conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Ladywell conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Ladywell conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the firm with lease extension legislation?
Notwithstanding our best endeavours, we have been unsuccessful in negotiating a lease extension in Ladywell. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Ladywell conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Ladywell premises is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 74.25 years.