Questions and Answers: Burwell leasehold conveyancing
My partner and I may need to rent out our Burwell ground floor flat for a while due to a new job. We used a Burwell conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Burwell do not contain strict prohibition on subletting – such a provision 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.
There are only Fifty years unexpired on my flat in Burwell. I need to get lease extension but my landlord is absent. What should I do?
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 have made all reasonable attempts to find the freeholder. For most situations an enquiry agent would be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Burwell.
Looking forward to exchange soon on a studio apartment in Burwell. Conveyancing lawyers assured me that they will have a report out to me 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 Burwell should include some of the following:
- You should receive a copy of the lease
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Burwell. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Burwell are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Burwell so you should seriously consider looking for a Burwell conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I am a negotiator for a reputable estate agency in Burwell where we have experienced a number of flat sales derailed due to short leases. I have been given contradictory information from local Burwell conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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.
I inherited a ground floor flat in Burwell, conveyancing formalities finalised in 2002. Can you work out an approximate cost of a lease extension? Comparable flats in Burwell with over 90 years remaining are worth £247,000. The ground rent is £65 yearly. The lease finishes on 21st October 2103
You have 77 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
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