I am in need of some leasehold conveyancing in Moorgate. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Moorgate - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Harry (my fiance) and I may need to let out our Moorgate 1st floor flat for a while due to a new job. We used a Moorgate conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Moorgate do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to exchange soon on a studio apartment in Moorgate. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Moorgate should include some of the following:

• Setting out your rights in relation to the communal areas in the block.By way of example, does the lease grant a right of way over a path or staircase?

I am tempted by the attractive purchase price for a two maisonettes in Moorgate both have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Moorgate. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Moorgate conveyancing firm to represent me?

if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the price payable.

An example of a Lease Extension decision for a Moorgate premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The the unexpired term as at the valuation date was 72.39 years.

What makes a Moorgate lease unmortgageable?

There is nothing unique about leasehold conveyancing in Moorgate. Most leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Norwich and Peterborough 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 buyer to pull out.

Other Topics

Lease Extensions in Moorgate