Sample questions relating to Streatham leasehold conveyancing
I want to rent out my leasehold flat in Streatham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Streatham conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without prior consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am hoping to exchange soon on a leasehold property in Streatham. 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?
The report on title for your leasehold conveyancing in Streatham should include some of the following:
- You should receive a copy of the lease
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Streatham. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Streatham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Streatham so you should seriously consider shopping around for a Streatham conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I own a leasehold flat in Streatham. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Streatham who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Streatham 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 the limitation period for recovery of ground rent is six years.
I am looking at a two flats in Streatham which have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Streatham. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Streatham conveyancing firm to represent me?
Where there is a missing landlord or if 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 determine the sum to be paid.
An example of a Lease Extension decision for a Streatham residence is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case related to 1 flat. The the unexpired term as at the valuation date was 23.25 years.