Recently asked questions relating to Biddulph leasehold conveyancing
My partner and I may need to let out our Biddulph garden flat temporarily due to a new job. We used a Biddulph conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
A lease governs the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Biddulph do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I have recently realised that I have Sixty One years left on my flat in Biddulph. I am keen to extend my lease but my freeholder is missing. What are my options?
If you qualify, 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. On the whole an enquiry agent would be helpful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Biddulph.
What advice can you give us when it comes to appointing a Biddulph conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Biddulph conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Biddulph conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then what is the reason?
Do you have any advice for leasehold conveyancing in Biddulph with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Biddulph can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
- If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Biddulph state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer first.
What are the frequently found defects that you encounter in leases for Biddulph properties?
There is nothing unique about leasehold conveyancing in Biddulph. All leases are individual and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair 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 may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.
I acquired a ground floor flat in Biddulph, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Biddulph with an extended lease are worth £193,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2103
With 77 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus professional fees.
The suggested premium range 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. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
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