Recently asked questions relating to Braintree leasehold conveyancing
I only have 62 years left on my lease in Braintree. I now want to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. For most situations an enquiry agent may be useful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Braintree.
Expecting to sign contracts shortly on a ground floor flat in Braintree. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Braintree should include some of the following:
- You should receive a copy of the lease
I own a leasehold flat in Braintree. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Braintree who previously acted has now retired.What should I do?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Braintree conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Braintree where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Braintree conveyancing firms. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
If all goes to plan we aim to complete the sale of our £425000 flat in Braintree next Monday . The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Braintree?
Braintree conveyancing on leasehold apartments typically necessitates administration charges invoiced by management companies :
- Answering pre-contract enquiries
- Where consent is required before sale in Braintree
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1 bedroom flat in Braintree, conveyancing having been completed 4 years ago. How much will my lease extension cost? Comparable flats in Braintree with an extended lease are worth £244,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2073
With 52 years left to run we estimate the price of your lease extension to range between £34,200 and £39,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.