Southborough leasehold conveyancing Example Support Desk Enquiries
I am intending to sublet my leasehold flat in Southborough. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Southborough do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests 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 consent.
There are only Sixty One years left on my lease in Southborough. I need to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases a specialist should be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Southborough.
I am looking at a couple of maisonettes in Southborough both have about 50 years remaining on the lease term. should I be concerned?
There are plenty of short leases in Southborough. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not 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 difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field
Last month I purchased a leasehold property in Southborough. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Do you have any top tips for leasehold conveyancing in Southborough with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Southborough can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
- Some Southborough leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Southborough. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Southborough conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Southborough premises 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 was in relation to 1 flat. The remaining number of years on the lease was 50.57 years.