Recently asked questions relating to Mottingham leasehold conveyancing
My wife and I may need to sub-let our Mottingham garden flat temporarily due to a career opportunity. We used a Mottingham conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Mottingham do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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 permission.
I am hoping to exchange soon on a leasehold property in Mottingham. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Mottingham should include some of the following:
- The total extent of the property. This will be the apartment itself but might include a roof space or basement if appropriate.
I am tempted by the attractive purchase price for a couple of maisonettes in Mottingham both have about forty five years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Mottingham. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to appointing a Mottingham conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Mottingham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Mottingham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Mottingham with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Mottingham can be bypassed if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers conveyancers.
- The majority freeholders or Management Companies in Mottingham charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Mottingham.
I own a a ground floor purpose built flat in Mottingham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Mottingham conveyancing firm who can help.
An example of a Lease Extension decision for a Mottingham property is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 23.26 years.