Recently asked questions relating to Fawley leasehold conveyancing
I am on look out for some leasehold conveyancing in Fawley. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Fawley - then the leasehold title will always include the short particulars 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.
Frank (my husband) and I may need to let out our Fawley basement flat temporarily due to a career opportunity. We instructed a Fawley conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Fawley conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of prior permission. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
I have recently realised that I have 62 years unexpired on my flat in Fawley. I now wish to extend my lease but my freeholder is can not be found. What are my options?
On the basis that 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 track down the lessor. For most situations a specialist should be helpful to carry out a search and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Fawley.
I own a leasehold flat in Fawley. Conveyancing and Barclays mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Fawley who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Fawley conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a two maisonettes in Fawley which have about fifty years remaining on the leases. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
I acquired a studio flat in Fawley, conveyancing formalities finalised in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Fawley with an extended lease are worth £242,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2090
You have 65 years left to run the likely cost is going to range between £13,300 and £15,400 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns 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 based on this information before getting professional advice.
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