Questions and Answers: Hellesdon leasehold conveyancing
Harry (my fiance) and I may need to let out our Hellesdon 1st floor flat for a while due to a career opportunity. We used a Hellesdon conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Even though your last Hellesdon conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent is not allowed to 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.
There are only Seventy years left on my flat in Hellesdon. I now want to extend my lease but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, 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 extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Hellesdon.
Can you offer any advice when it comes to finding a Hellesdon conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Hellesdon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Hellesdon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
If all goes to plan we aim to complete our sale of a £125000 garden flat in Hellesdon on Thursday in a week. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Hellesdon?
For most leasehold sales in Hellesdon conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Hellesdon
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Are there frequently found problems that you come across in leases for Hellesdon properties?
There is nothing unique about leasehold conveyancing in Hellesdon. All leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Skipton Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
I am the registered owner of a split level flat in Hellesdon, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Hellesdon with an extended lease are worth £208,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2075
With 50 years left to run we estimate the premium for your lease extension to be between £38,000 and £44,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered 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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