Recently asked questions relating to Houghton Regis leasehold conveyancing
I am on look out for some leasehold conveyancing in Houghton Regis. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Houghton Regis - 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 have recently realised that I have Fifty years unexpired on my flat in Houghton Regis. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
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 granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. In some cases an enquiry agent would be helpful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Houghton Regis.
I am hoping to sign contracts shortly on a ground floor flat in Houghton Regis. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Houghton Regis should include some of the following:
- The physical extent of the property. This will be the apartment itself but might incorporate a roof space or basement if appropriate.
I am a negotiator for a busy estate agency in Houghton Regis where we have experienced a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Houghton Regis conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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.
Can you offer any advice when it comes to finding a Houghton Regis conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Houghton Regis conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Houghton Regis conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If they are not ALEP accredited then why not?
I purchased a 1st floor flat in Houghton Regis, conveyancing was carried out 2001. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Houghton Regis with an extended lease are worth £229,000. The ground rent is £65 per annum. The lease ceases on 21st October 2089
With just 65 years unexpired the likely cost is going to be between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
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