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Questions and Answers: Streatham leasehold conveyancing

My husband and I may need to sub-let our Streatham garden flat temporarily due to a new job. We instructed a Streatham conveyancing practice in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Streatham do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to 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.

Expecting to exchange soon on a studio apartment 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:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the flat itself but could also incorporate a loft or basement if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Streatham please enquire of your conveyancer in ahead of your conveyancing in Streatham

    • I own a leasehold house in Streatham. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Streatham who acted for me is not around.What should I do?

    The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Streatham conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am tempted by the attractive purchase price for a two maisonettes in Streatham both have about 50 years unexpired on the lease term. Will this present a problem?

    There are plenty of short leases in Streatham. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive 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 because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

    Last month I purchased a leasehold house in Streatham. Am I liable to pay service charges relating to a period prior to my ownership?

    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 be sure 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).

    My wife and I have hit a brick wall in negotiating a lease extension in Streatham. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a Streatham conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal 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 residue of the current lease was 23.25 years.

    Other Topics

    Lease Extensions in Streatham