Top Five Questions relating to Hanslope leasehold conveyancing
My fiance and I may need to sub-let our Hanslope garden flat for a while due to a career opportunity. We instructed a Hanslope conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
A lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Hanslope do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have recently realised that I have 72 years left on my lease in Hanslope. I need to get lease extension but my landlord is missing. 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. For most situations a specialist should be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Hanslope.
My wife and I purchased a leasehold house in Hanslope. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Hanslope who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Hanslope conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. 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 looking at a couple of maisonettes in Hanslope which have about forty five years remaining on the leases. Will this present a problem?
There are plenty of short leases in Hanslope. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to choosing a Hanslope conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Hanslope conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Hanslope conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
- How many lease extensions have they carried out in Hanslope in the last year?
I own a studio flat in Hanslope, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Hanslope with a long lease are worth £196,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2104
With just 78 years remaining on your lease we estimate the price of your lease extension to be 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 extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures 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 move forward placing reliance on this information before getting professional advice.