Top Five Questions relating to Portland leasehold conveyancing
I am on look out for some leasehold conveyancing in Portland. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and most are in Portland - 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.
I wish to sublet my leasehold flat in Portland. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Portland conveyancing solicitor is not available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I own a leasehold flat in Portland. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Portland who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Portland conveyancing practitioner 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 legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £225000 maisonette in Portland on Wednesday in a week. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Portland?
For most leasehold sales in Portland conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Portland
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Portland lease unacceptable for security purposes?
Leasehold conveyancing in Portland is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- 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
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Leasehold Conveyancing in Portland - Examples of Queries Prior to buying
Most Portland leasehold flats will incur a service charge for maintenance of the block invoiced by the landlord. Where you buy the flat you will have to pay this liability, normally quarterly accross the year. This can differ from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met annual, ordinarily this is not a large amount, say about £50-£100 but you should to enquire it because on occasion it can be many hundreds of pounds.
Are there any major works in the planning that will likely add a premium to the service costs?
How many years are left on the lease?