Frequently asked questions relating to Epping leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Epping. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Epping - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Helen (my wife) and I may need to sub-let our Epping ground floor flat for a while due to a new job. We instructed a Epping conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Epping conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party before subletting. The net result is you not allowed to sublet without first obtaining consent. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
There are only Fifty years left on my flat in Epping. I am keen to get lease extension but my landlord is missing. 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 an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Epping.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Epping. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Epping are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Epping so you should seriously consider shopping around for a Epping conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Epping. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Epping who previously acted has long since retired.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Epping conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a 1 bedroom flat in Epping, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Epping with an extended lease are worth £250,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2096
You have 70 years remaining on your lease the likely cost is going to span between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.