Common questions relating to Victoria Park leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Victoria Park. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Victoria Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Harry (my fiance) and I may need to rent out our Victoria Park basement flat temporarily due to taking a sabbatical. We instructed a Victoria Park conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Victoria Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see 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 consent.
Back In 2003, I bought a leasehold house in Victoria Park. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Victoria Park who previously acted has now retired.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Victoria Park conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two apartments in Victoria Park which have in the region of forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Victoria Park. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
We expect to complete the sale of our £300000 garden flat in Victoria Park on Tuesday in a week. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Victoria Park?
Victoria Park conveyancing on leasehold maisonettes normally involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to complete the sale of your home.
Victoria Park Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
What prohibitions are contained in the Victoria Park Lease?
What is the service charge and ground rent on the property?
Is anyone aware of any major works on the horizon that could add a premium to the service costs?