Frequently asked questions relating to Harwich leasehold conveyancing
I am in need of some leasehold conveyancing in Harwich. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Harwich - 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.
I only have Fifty years unexpired on my flat in Harwich. I now wish to get lease extension but my freeholder is absent. What options are available to me?
If you qualify, 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. For most situations a specialist should be helpful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Harwich.
Looking forward to complete next month on a basement flat in Harwich. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Harwich should include some of the following:
- You should be sent a copy of the lease
I am tempted by the attractive purchase price for a couple of maisonettes in Harwich both have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena
What are your top tips when it comes to choosing a Harwich conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Harwich conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Harwich conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then what is the reason?
I acquired a studio flat in Harwich, conveyancing was carried out in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Harwich with over 90 years remaining are worth £205,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2093
With just 72 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.