Sample questions relating to Belper leasehold conveyancing
I am intending to rent out my leasehold flat in Belper. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
A small minority of properties in Belper 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 review 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 have recently realised that I have 62 years left on my lease in Belper. I now wish to get lease extension but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. In some cases an enquiry agent may be helpful to conduct investigations and to produce a report 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 investigating the landlord’s disappearance and the application to the County Court covering Belper.
Expecting to exchange soon on a studio apartment in Belper. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Belper should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
What are your top tips when it comes to appointing a Belper conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Belper conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Belper conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- What volume of lease extensions have they completed in Belper in the last 12 months?
When it comes to leasehold conveyancing in Belper what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Belper. Most leases are individual and drafting errors can result in certain sections are wrong. 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
- Insurance obligations
- 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Aldermore 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 is problematic they may refuse to provide security, obliging the buyer to withdraw.
I acquired a 1 bedroom flat in Belper, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Belper with an extended lease are worth £180,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2077
With only 55 years unexpired we estimate the premium for your lease extension to be between £25,700 and £29,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.