Questions and Answers: Stamford Bridge leasehold conveyancing
I wish to let out my leasehold flat in Stamford Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Stamford Bridge do contain a provision to say that subletting is only allowed with permission. The landlord cannot 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 permission.
Back In 2007, I bought a leasehold flat in Stamford Bridge. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Stamford Bridge who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Stamford Bridge conveyancing solicitor to do this as it can be done on-line 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.
I am employed by a busy estate agency in Stamford Bridge where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Stamford Bridge conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Do you have any top tips for leasehold conveyancing in Stamford Bridge from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Stamford Bridge can be bypassed where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
- The majority freeholders or Management Companies in Stamford Bridge levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack 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 Stamford Bridge.
In relation to leasehold conveyancing in Stamford Bridge what are the most frequent lease problems?
Leasehold conveyancing in Stamford Bridge is not unique. All leases is drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- 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 as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Bank of Ireland 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 provide security, forcing the purchaser to withdraw.
Stamford Bridge Leasehold Conveyancing - Sample of Queries Prior to Purchasing
Its a good idea to find out as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily issues such as the upkeep of the communal areas. Enquire of other people if they are happy with them. Finally, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes.
Make sure you investigate if the the lease includes any onerous restrictions in the lease. For example some leases prohibit pets being permitted in in a block in Stamford Bridge. If you like the flatin Stamford Bridge yet your cat is not allowed to move with you then you will be faced hard choice.
The answer will be important as a) areas may cause problems in the building as the communal areas may start to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have full disclosure