Recently asked questions relating to Beaworthy leasehold conveyancing
I would like to let out my leasehold apartment in Beaworthy. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Beaworthy do contain a provision to say that subletting is only allowed with permission. 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 permission.
I only have Fifty years remaining on my lease in Beaworthy. I need to get lease extension but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have done all that could be expected to track down the landlord. For most situations an enquiry agent would be useful to conduct investigations and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Beaworthy.
I am a negotiator for a long established estate agency in Beaworthy where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received inconsistent advice from local Beaworthy conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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 buyer 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.
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 purchaser.
What are your top tips when it comes to choosing a Beaworthy conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Beaworthy conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Beaworthy conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
In relation to leasehold conveyancing in Beaworthy what are the most frequent lease defects?
Leasehold conveyancing in Beaworthy is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Nottingham Building Society all have very detailed 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 grant the mortgage, forcing the purchaser to pull out.
I acquired a 1 bedroom flat in Beaworthy, conveyancing having been completed 2012. How much will my lease extension cost? Corresponding flats in Beaworthy with a long lease are worth £180,000. The ground rent is £55 yearly. The lease ceases on 21st October 2100
You have 77 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.