Frequently asked questions relating to Limehouse leasehold conveyancing
Jane (my partner) and I may need to let out our Limehouse basement flat for a while due to taking a sabbatical. We instructed a Limehouse conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Limehouse do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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.
Due to complete next month on a ground floor flat in Limehouse. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Limehouse should include some of the following:
- You should receive a copy of the lease
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Limehouse. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Limehouse are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Limehouse in which case you should be looking for a Limehouse conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
Last month I purchased a leasehold flat in Limehouse. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Do you have any advice for leasehold conveyancing in Limehouse with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Limehouse can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
- The majority landlords or managing agents in Limehouse levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Limehouse.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Limehouse conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Limehouse conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Limehouse residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.