Frequently asked questions relating to Fleet leasehold conveyancing
Frank (my husband) and I may need to sub-let our Fleet ground floor flat temporarily due to a career opportunity. We used a Fleet conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Fleet do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I only have Sixty One years unexpired on my lease in Fleet. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
If 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 enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. For most situations an enquiry agent may be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Fleet.
I am tempted by the attractive purchase price for a two flats in Fleet which have approximately 50 years left on the lease term. 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 a lease gets shorter the saleability of the lease decreases and it becomes more costly to acquire a lease extension. 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 companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
What are your top tips when it comes to finding a Fleet conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Fleet conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Fleet conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If they are not ALEP accredited then what is the reason?
If all goes to plan we aim to complete the sale of our £425000 flat in Fleet on Monday in a week. The freeholder has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Fleet?
Fleet conveyancing on leasehold maisonettes more often than not requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I inherited a split level flat in Fleet, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Fleet with a long lease are worth £226,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2081
With just 55 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 as well as 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 comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
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