Great Baddow leasehold conveyancing Example Support Desk Enquiries
I wish to rent out my leasehold flat in Great Baddow. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Great Baddow do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Great Baddow. I now want to extend my lease but my landlord 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 apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. On the whole a specialist would be helpful to carry out a search and to produce a report which can be accepted by the court 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 covering Great Baddow.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Great Baddow. Conveyancing advisers have are about to be appointed. Will they explain the issues?
Most houses in Great Baddow are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Great Baddow so you should seriously consider looking for a Great Baddow conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
I am employed by a reputable estate agent office in Great Baddow where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Great Baddow conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 purchaser.
Can you provide any advice for leasehold conveyancing in Great Baddow from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Great Baddow can be avoided where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers lawyers.
- Many freeholders or managing agents in Great Baddow charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Great Baddow.
I inherited a 2 bed flat in Great Baddow, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Great Baddow with over 90 years remaining are worth £176,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2100
With just 77 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.