Fixed-fee leasehold conveyancing in Waltham Abbey:

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Waltham Abbey leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Waltham Abbey. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and 99.9% are in Waltham Abbey - then the leasehold title will always include the basic details 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.

My husband and I may need to rent out our Waltham Abbey garden flat for a while due to a new job. We instructed a Waltham Abbey conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

A lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Waltham Abbey do not prevent subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Due to complete next month on a garden flat in Waltham Abbey. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Waltham Abbey should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the property. This will be the flat itself but may include a loft or cellar if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Waltham Abbey please enquire of your solicitor in ahead of your conveyancing in Waltham Abbey

    • I am a negotiator for a reputable estate agency in Waltham Abbey where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Waltham Abbey conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

    An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    I own a second floor flat in Waltham Abbey. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to judgment on the price payable.

    An example of a Freehold Enfranchisement case for a Waltham Abbey flat is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired lease term was 69.26 years.

    In relation to leasehold conveyancing in Waltham Abbey what are the most common lease defects?

    Leasehold conveyancing in Waltham Abbey is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the building
    • 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 difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and Godiva Mortgages Ltd 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, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Waltham Abbey