Little Ilford leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Little Ilford. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Little Ilford - 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 let out our Little Ilford basement flat for a while due to a new job. We used a Little Ilford conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Little Ilford 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 review references. Experience suggests 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.
Expecting to exchange soon on a basement flat in Little Ilford. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Little Ilford should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
I am attracted to a two maisonettes in Little Ilford both have in the region of fifty years left on the leases. should I be concerned?
There are plenty of short leases in Little Ilford. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. 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 companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
I am a negotiator for a reputable estate agency in Little Ilford where we see a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Little Ilford conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a second floor flat in Little Ilford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
You certainly can. We can put you in touch with a Little Ilford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Little Ilford residence 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.