Sample questions relating to Selhurst leasehold conveyancing
I am in need of some leasehold conveyancing in Selhurst. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Selhurst - 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 rent out our Selhurst basement flat for a while due to a new job. We instructed a Selhurst conveyancing firm in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Selhurst do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Selhurst. I need to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to locate the landlord. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Selhurst.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Selhurst. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Selhurst are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Selhurst in which case you should be shopping around for a Selhurst conveyancing solicitor and check 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 at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I am attracted to a two apartments in Selhurst which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Selhurst. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
I am the registered owner of a second floor flat in Selhurst. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
Absolutely. We are happy to put you in touch with a Selhurst conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Selhurst premises is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired lease term was 26.38 years.
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