Recently asked questions relating to Thames View leasehold conveyancing
Harry (my fiance) and I may need to let out our Thames View ground floor flat for a while due to taking a sabbatical. We instructed a Thames View conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Even though your previous Thames View conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to obtain consent via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet without first obtaining permission. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I have just appointed agents to market my garden apartment in Thames View.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is clear 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.
I am attracted to a two apartments in Thames View which have in the region of 50 years left on the lease term. Will this present a problem?
There are plenty of short leases in Thames View. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field
Can you provide any top tips for leasehold conveyancing in Thames View with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Thames View can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
- The majority freeholders or managing agents in Thames View levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Thames View.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Thames View conveyancing firm to assist?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.
An example of a Lease Extension matter before the tribunal for a Thames View property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the unexpired term as at the valuation date was 61.36 years.
What makes a Thames View lease defective?
There is nothing unique about leasehold conveyancing in Thames View. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements 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
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. Nationwide Building Society, Leeds Building Society, and Bank of Ireland all have express 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 pull out.