Frequently asked questions relating to Hitchin leasehold conveyancing
I am on look out for some leasehold conveyancing in Hitchin. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Hitchin - then the leasehold title will always include the basic details 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 wish to rent out my leasehold flat in Hitchin. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your previous Hitchin conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I only have Sixty One years left on my lease in Hitchin. I now wish to get lease extension but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Hitchin.
If all goes to plan we aim to complete our sale of a £175000 apartment in Hitchin next Tuesday . The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Hitchin?
Hitchin conveyancing on leasehold flats often involves the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
What makes a Hitchin lease defective?
There is nothing unique about leasehold conveyancing in Hitchin. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- 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 difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.
I acquired a studio flat in Hitchin, conveyancing was carried out 2007. Can you work out an approximate cost of a lease extension? Similar flats in Hitchin with an extended lease are worth £266,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2097
With 72 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
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