Frequently asked questions relating to Victoria Dock leasehold conveyancing
My partner and I may need to sub-let our Victoria Dock garden flat temporarily due to a career opportunity. We instructed a Victoria Dock conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Victoria Dock do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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 consent.
Expecting to sign contracts shortly on a basement flat in Victoria Dock. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Victoria Dock should include some of the following:
- Setting out your legal entitlements in relation to the communal areas in the building.E.G., does the lease provide for a right of way over an accessway or hallways?
I’m about to sell my ground floor apartment in Victoria Dock.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 flat in Victoria Dock next week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Victoria Dock?
Victoria Dock conveyancing on leasehold flats often necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded if you want to complete the sale of your home.
When it comes to leasehold conveyancing in Victoria Dock what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Victoria Dock. Most leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- 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 will encounter 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. National Westminster Bank, Norwich and Peterborough Building Society, and Nottingham Building Society all have express requirements 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 buyer to withdraw.
Leasehold Conveyancing in Victoria Dock - Sample of Queries before buying
It would be a good idea to find out if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Victoria Dock. If you like the propertyin Victoria Dock yet your dog can’t live with you then you will be faced difficult compromise.
Who are the managing agents?
What restrictions are there in the Victoria Dock Lease?