Common questions relating to Victoria Docks leasehold conveyancing
I am intending to rent out my leasehold apartment in Victoria Docks. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Victoria Docks conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior permission. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Expecting to sign contracts shortly on a basement flat in Victoria Docks. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Victoria Docks should include some of the following:
- Defining your rights in relation to the communal areas in the block.For instance, does the lease provide for a right of way over an accessway or hallways?
I am tempted by the attractive purchase price for a couple of maisonettes in Victoria Docks which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Victoria Docks. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
I've recently bought a leasehold house in Victoria Docks. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. 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 be sure 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).
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Victoria Docks. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Victoria Docks conveyancing firm who can help.
An example of a Lease Extension case for a Victoria Docks residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.
Are there common defects that you encounter in leases for Victoria Docks properties?
There is nothing unique about leasehold conveyancing in Victoria Docks. Most leases are unique and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- 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
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. Lloyds TSB Bank, Skipton Building Society, and TSB 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 does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.