Examples of recent questions relating to leasehold conveyancing in South Wimbledon
I am in need of some leasehold conveyancing in South Wimbledon. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in South Wimbledon - 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 rent out our South Wimbledon garden flat temporarily due to a new job. We used a South Wimbledon conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous South Wimbledon conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.
I am hoping to exchange soon on a basement flat in South Wimbledon. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in South Wimbledon should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am looking at a two maisonettes in South Wimbledon which have in the region of forty five years unexpired on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
Can you provide any top tips for leasehold conveyancing in South Wimbledon with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in South Wimbledon can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers lawyers.
- The majority freeholders or Management Companies in South Wimbledon charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in South Wimbledon.
I own a ground floor flat in South Wimbledon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension matter before the tribunal for a South Wimbledon residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The the unexpired residue of the current lease was 62.94 years.