Leasehold Conveyancing in Victoria Dock - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Victoria Dock, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Victoria Dock leasehold conveyancing

I want to let out my leasehold flat in Victoria Dock. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Victoria Dock conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek permission from your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I have recently realised that I have Fifty years remaining on my flat in Victoria Dock. I am keen to extend my lease but my landlord is can not be found. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the lessor. In some cases a specialist would be helpful 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 solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Victoria Dock.

I am attracted to a two maisonettes in Victoria Dock both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Victoria Dock is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most buyers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Victoria Dock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in Victoria Dock. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

If all goes to plan we aim to complete the sale of our £300000 flat in Victoria Dock in six days. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Victoria Dock?

Victoria Dock conveyancing on leasehold apartments usually necessitates fees being invoiced by landlords agents :

  • Addressing conveyancing due diligence questions
  • Where consent is required before sale in Victoria Dock
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Victoria Dock leasehold property is £350. For Victoria Dock conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

Victoria Dock Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

    What is the the remaining lease term? How much is the ground rent and service charge? Best to be warned if a new roof is being installed or some other significant cost is anticipated that will be shared amongst the leaseholders and will materially increase the the maintenance charges or require a specific invoice.

Other Topics

Lease Extensions in Victoria Dock