Old Malden leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Old Malden. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Old Malden - 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 let out our Old Malden ground floor flat temporarily due to taking a sabbatical. We instructed a Old Malden conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Your lease governs relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Old Malden do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Old Malden. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Old Malden ?
Most houses in Old Malden are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Old Malden so you should seriously consider looking for a Old Malden conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
I own a leasehold house in Old Malden. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Old Malden who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Old Malden conveyancing practitioner 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 rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
All being well we will complete our sale of a £150000 maisonette in Old Malden next week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Old Malden?
Old Malden conveyancing on leasehold apartments more often than not involves the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Old Malden conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Old Malden conveyancing firm who can help.
An example of a Lease Extension decision for a Old Malden flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.