Experts for Leasehold Conveyancing in Burnham On Crouch

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Burnham On Crouch, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Burnham On Crouch leasehold conveyancing

I am intending to sublet my leasehold flat in Burnham On Crouch. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A small minority of properties in Burnham On Crouch do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse 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 consent.

There are only Sixty One years remaining on my lease in Burnham On Crouch. I now want to extend my lease but my freeholder is missing. What options are available to me?

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 mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. On the whole a specialist would be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Burnham On Crouch.

I have just appointed agents to market my garden flat in Burnham On Crouch.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two apartments in Burnham On Crouch both have in the region of 50 years left on the leases. Do I need to be concerned?

There are plenty of short leases in Burnham On Crouch. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Burnham On Crouch from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Burnham On Crouch can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
  • Some Burnham On Crouch leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate can be a lengthy process and slows down many a Burnham On Crouch home move. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • I inherited a 1st floor flat in Burnham On Crouch, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Burnham On Crouch with over 90 years remaining are worth £267,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2079

    With 55 years unexpired we estimate the price of your lease extension to range between £31,400 and £36,200 as well as costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Burnham On Crouch