Frequently asked questions relating to Plaistow leasehold conveyancing
I am in need of some leasehold conveyancing in Plaistow. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Plaistow - then the leasehold title will always include the basic details 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 wife and I may need to sub-let our Plaistow garden flat temporarily due to taking a sabbatical. We used a Plaistow conveyancing practice in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Even though your last Plaistow conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you must obtain permission from your landlord or some other party before subletting. This means you not allowed to sublet in the absence of prior consent. The consent is not allowed to 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.
I am hoping to sign contracts shortly on a leasehold property in Plaistow. 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?
The report on title for your leasehold conveyancing in Plaistow should include some of the following:
- You should receive a copy of the lease
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Plaistow. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Plaistow ?
Most houses in Plaistow are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Plaistow in which case you should be looking for a Plaistow conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I am tempted by the attractive purchase price for a two flats in Plaistow which have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Plaistow. The lease is a right to use the premises for a period of time. As the lease gets shorter 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. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
I am the leaseholder of a second floor flat in Plaistow. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
You certainly can. We are happy to put you in touch with a Plaistow conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Plaistow property is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268