Orpington leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Orpington. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Orpington - 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.
My partner and I may need to let out our Orpington ground floor flat for a while due to a career opportunity. We instructed a Orpington conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Orpington conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek permission via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Planning to exchange soon on a leasehold property in Orpington. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Orpington should include some of the following:
- Defining your rights in relation to common areas in the building.For instance, does the lease include a right of way over a path or staircase?
- Does the lease prohibit wood flooring?
- Whether the lease restricts you from subletting the property, or having a home office for business
- Changes to the flat (alterations and additions)
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- Responsibility for repairing the window frames
Estate agents have just been given the go-ahead to market my basement apartment in Orpington.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a couple of flats in Orpington which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Orpington. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Orpington. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Orpington conveyancing firm who can help.
An example of a Lease Extension case for a Orpington residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired lease term was 50.57 years.
I purchased a studio flat in Orpington, conveyancing having been completed in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Orpington with over 90 years remaining are worth £231,000. The ground rent is £50 levied per year. The lease ends on 21st October 2078
You have 52 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.