Morden Park leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Morden Park. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - 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.
Helen (my wife) and I may need to sub-let our Morden Park garden flat for a while due to a career opportunity. We used a Morden Park conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Morden Park conveyancing lawyer is no longer available you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek consent from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior consent. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Morden Park. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Morden Park ?
The majority of houses in Morden Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Morden Park in which case you should be shopping around for a Morden Park conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
Back In 2008, I bought a leasehold house in Morden Park. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Morden Park who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Morden Park conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
My wife and I have hit a brick wall in negotiating a lease extension in Morden Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the amount due.
An example of a Lease Extension decision for a Morden Park flat 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 related to 1 flat. The the unexpired residue of the current lease was 60.43 years.
What makes a Morden Park lease unmortgageable?
There is nothing unique about leasehold conveyancing in Morden Park. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.