Frequently asked questions relating to Hartfield leasehold conveyancing
I would like to sublet my leasehold flat in Hartfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Hartfield conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Expecting to exchange soon on a leasehold property in Hartfield. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Hartfield should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Hartfield. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Hartfield ?
The majority of houses in Hartfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Hartfield in which case you should be shopping around for a Hartfield conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I am looking at a two flats in Hartfield which have about forty five years left on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
I am employed by a busy estate agent office in Hartfield where we see a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Hartfield conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that 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 proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I am the registered owner of a 1st floor flat in Hartfield, conveyancing having been completed 2009. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Hartfield with an extended lease are worth £269,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease ceases on 21st October 2084
With just 59 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns 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 seeking the advice of a professional.
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