Stamford Hill leasehold conveyancing Example Support Desk Enquiries
Harry (my fiance) and I may need to rent out our Stamford Hill basement flat for a while due to a career opportunity. We instructed a Stamford Hill conveyancing firm in 2004 but they have since shut 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?
Even though your last Stamford Hill conveyancing solicitor is no longer around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Expecting to sign contracts shortly on a leasehold property in Stamford Hill. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stamford Hill should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Back In 2002, I bought a leasehold house in Stamford Hill. Conveyancing and Britannia mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Stamford Hill who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Stamford Hill conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Stamford Hill both have about 50 years left on the leases. Will this present a problem?
A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies 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 arena
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Stamford Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension matter before the tribunal for a Stamford Hill property is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case was in relation to 1 flat. The remaining number of years on the lease was 59 years.
When it comes to leasehold conveyancing in Stamford Hill what are the most frequent lease defects?
Leasehold conveyancing in Stamford Hill is not unique. All leases is drafted differently and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Leeds Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.