Helen (my wife) and I may need to let out our Burnham On Crouch 1st floor flat for a while due to taking a sabbatical. We used a Burnham On Crouch conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Burnham On Crouch do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I only have 68 years unexpired on my lease in Burnham On Crouch. I am keen to get lease extension but my freeholder is missing. What options are available to me?

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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent should be useful to carry out a search and to produce a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Burnham On Crouch.

I am attracted to a couple of maisonettes in Burnham On Crouch which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Burnham On Crouch is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Burnham On Crouch conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Completion in due on the disposal of our £150000 apartment in Burnham On Crouch in seven days. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Burnham On Crouch?

Burnham On Crouch conveyancing on leasehold maisonettes normally necessitates the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to sell the property.

What are the frequently found problems that you witness in leases for Burnham On Crouch properties?

Leasehold conveyancing in Burnham On Crouch is not unique. Most leases are unique 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:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Skipton Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

Burnham On Crouch Leasehold Conveyancing - Sample of Queries Prior to buying

Please note that where the lease has less than eighty years it will impact the marketability of the property. Check with your bank that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this would cost. For most Burnham On Crouchlease extensions you will be required to have been the owner of the premises for two years before you are entitled to carry out a lease extension. Best to be warned if changing the roof or some other significant cost is pending that will be shared by the leaseholders and could well materially increase the the service charges or require a specific payment. Who takes responsibility for maintaining and repairing the building?

Other Topics

Lease Extensions in Burnham On Crouch