Top Five Questions relating to Roker leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Roker. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and almost all are in Roker - 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.
Frank (my husband) and I may need to rent out our Roker garden flat temporarily due to taking a sabbatical. We instructed a Roker 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?
Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Roker do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Roker. I now wish to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist should be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Roker.
Last month I purchased a leasehold flat in Roker. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
What makes a Roker lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Roker. All leases are unique and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
Roker Conveyancing for Leasehold Flats - A selection of Queries before buying
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What prohibitions exist in the Roker Lease?
Where a Roker lease has fewer than 80 years it will have adverse implications on the salability of the flat. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. Remember, in most cases you will need to own the residence for two years before you are eligible to exercise a lease extension.
You will want to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily issues such as the tidiness of the communal areas. Enquire of prospective neighbours what they think of their management. Finally, be sure you know the dates that the maintenance charges are due to the relevant party and precisely how they are spending the funds.
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