Frequently asked questions relating to Morden Park leasehold conveyancing
I am on look out for some leasehold conveyancing in Morden Park. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Morden Park - then the leasehold title will always include the short particulars 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 wish to rent out my leasehold apartment in Morden Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Morden Park conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
What advice can you give us when it comes to appointing a Morden Park conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Morden Park conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Morden Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Do you have any top tips for leasehold conveyancing in Morden Park with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Morden Park can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Morden Park leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. If you fail to have the approvals to hand do not contact the landlord without contacting your conveyancer in advance.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Morden Park conveyancing firm to assist?
Most certainly. We are happy to put you in touch with a Morden Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Morden Park residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired lease term was 60.43 years.
In relation to leasehold conveyancing in Morden Park what are the most frequent lease defects?
Leasehold conveyancing in Morden Park is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- 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
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Platform Home Loans Ltd 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 problematic they may refuse to provide security, forcing the buyer to pull out.