Recently asked questions relating to Little Ilford leasehold conveyancing
Frank (my husband) and I may need to let out our Little Ilford 1st floor flat temporarily due to a new job. We instructed a Little Ilford conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Little Ilford conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or some other party in advance of subletting. This means you not allowed to sublet without prior permission. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Due to complete next month on a ground floor flat in Little Ilford. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Little Ilford should include some of the following:
- You should be sent a copy of the lease
Estate agents have just been given the go-ahead to market my ground floor apartment in Little Ilford.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Little Ilford. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Little Ilford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Little Ilford so you should seriously consider looking for a Little Ilford conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.
I am looking at a couple of flats in Little Ilford which have approximately forty five years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Little Ilford. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
I have had difficulty in trying to purchase the freehold in Little Ilford. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is dispute 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 LVT to make a decision on the amount due.
An example of a Freehold Enfranchisement case for a Little Ilford property is 9 Granville Road in June 2014. The tribunal determines the enfranchisement price payable by the applicants for the freehold was £32,548 This case affected 5 flats. The unexpired lease term was 73.8 years.