Recently asked questions relating to Little Ilford leasehold conveyancing
My husband and I may need to let out our Little Ilford ground floor flat for a while due to a career opportunity. We instructed a Little Ilford conveyancing firm in 2002 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 lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Little Ilford do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I only have Fifty years remaining on my flat in Little Ilford. I need to extend my lease but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Little Ilford.
Back In 2004, I bought a leasehold house in Little Ilford. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Little Ilford who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Little Ilford conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any top tips for leasehold conveyancing in Little Ilford with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Little Ilford can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
- Many landlords or Management Companies in Little Ilford charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Little Ilford.
My wife and I have hit a brick wall in trying to purchase the freehold in Little Ilford. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Little Ilford conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Little Ilford premises 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 related to 5 flats. The remaining number of years on the lease was 73.8 years.
In relation to leasehold conveyancing in Little Ilford what are the most common lease problems?
Leasehold conveyancing in Little Ilford is not unique. Most leases are individual and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.