Dursley leasehold conveyancing Example Support Desk Enquiries
Frank (my husband) and I may need to sub-let our Dursley garden flat temporarily due to a career opportunity. We instructed a Dursley conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Dursley do not contain subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
There are only Seventy years left on my flat in Dursley. I am keen to get lease extension but my freeholder is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent should be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Dursley.
Planning to complete next month on a garden flat in Dursley. 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 Dursley should include some of the following:
- Whether your lease has a provision for a sinking fund?
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
I have just appointed agents to market my basement flat in Dursley.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – what should I do?
It best that you clear the service charge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a two maisonettes in Dursley which have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field
I am the registered owner of a studio flat in Dursley, conveyancing was carried out 1996. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Dursley with an extended lease are worth £178,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2105
You have 79 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.