Common questions relating to Delabole leasehold conveyancing
I would like to sublet my leasehold apartment in Delabole. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Delabole do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I have recently realised that I have 72 years left on my lease in Delabole. I now wish to get lease extension but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent would be helpful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Delabole.
I own a leasehold house in Delabole. Conveyancing and The Mortgage Works mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Delabole who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Delabole conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two apartments in Delabole both have approximately fifty years left on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena
I am a negotiator for a long established estate agency in Delabole where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Delabole conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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.
Delabole Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
What is the annual service fee and ground rent?
Are there any major works anticipated that could add a premium to the service costs?
It would be prudent to find out as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. You should not be shy to ask prospective neighbours what they think of their service. Finally, investigate as to the dates that the service fees are due to the appropriate party and precisely what you get for your money.