Questions and Answers: Shadwell leasehold conveyancing
Helen (my wife) and I may need to let out our Shadwell basement flat temporarily due to taking a sabbatical. We instructed a Shadwell conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Shadwell do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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.
Due to sign contracts shortly on a ground floor flat in Shadwell. Conveyancing lawyers have said that they report fully 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 Shadwell should include some of the following:
- Setting out your rights in relation to common areas in the building.For instance, does the lease grant a right of way over a path or hallways?
My wife and I purchased a leasehold flat in Shadwell. Conveyancing and Aldermore mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Shadwell 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 purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Shadwell conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Shadwell from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Shadwell can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
- Many landlords or managing agents in Shadwell levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Shadwell.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Shadwell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Shadwell property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 101.61 years.
Are there frequently found problems that you encounter in leases for Shadwell properties?
There is nothing unique about leasehold conveyancing in Shadwell. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.