Examples of recent questions relating to leasehold conveyancing in Moor Row
Frank (my husband) and I may need to rent out our Moor Row garden flat temporarily due to a career opportunity. We used a Moor Row conveyancing practice in 2003 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?
The lease governs the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Moor Row do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Moor Row.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Back In 2009, I bought a leasehold house in Moor Row. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Moor Row who previously acted has long since retired.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Moor Row conveyancing practitioner 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 landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in Moor Row with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Moor Row can be reduced if you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- The majority freeholders or managing agents in Moor Row charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Moor Row.
Are there common problems that you witness in leases for Moor Row properties?
There is nothing unique about leasehold conveyancing in Moor Row. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- 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 problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.
Moor Row Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
The prefered form of lease arrangement is where the freehold interest is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and even though a managing agent is usually retained if the building is larger than a house conversion, the managing agent is directed by the tenants.
What is the service charge and ground rent on the flat?
The answer will be important as a) areas could cause problems for the block as the communal areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure