Guaranteed fixed fees for Leasehold Conveyancing in Aston on Trent

When it comes to leasehold conveyancing in Aston on Trent, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or NatWest make sure you find a lawyer on their panel. Find a Aston on Trent conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in Aston on Trent

I am on look out for some leasehold conveyancing in Aston on Trent. Before I get started I require certainty as to the remaining lease term.

If the lease is registered - and almost all are in Aston on Trent - 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.

I would like to sublet my leasehold flat in Aston on Trent. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Aston on Trent do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

There are only 68 years unexpired on my flat in Aston on Trent. I now want to extend my lease but my landlord is missing. What should I do?

If 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 mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. In some cases a specialist may be helpful to conduct investigations and to produce an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Aston on Trent.

I am employed by a long established estate agent office in Aston on Trent where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Aston on Trent conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 buyer.

What makes a Aston on Trent lease unacceptable for security purposes?

Leasehold conveyancing in Aston on Trent is not unique. All leases is drafted differently and drafting errors can result in certain sections are missing. 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 building
  • 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

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Alliance & Leicester all have express conveyancing instructions 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, obliging the purchaser to pull out.

I purchased a basement flat in Aston on Trent, conveyancing formalities finalised in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Aston on Trent with over 90 years remaining are worth £206,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2075

With just 50 years left to run we estimate the premium for your lease extension to range between £39,000 and £45,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

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Lease Extensions in Aston on Trent