Questions and Answers: Howden leasehold conveyancing
My partner and I may need to rent out our Howden ground floor flat for a while due to a new job. We instructed a Howden conveyancing practice in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Howden do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I only have 62 years remaining on my lease in Howden. I now wish to extend my lease but my freeholder is absent. 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 made all reasonable attempts to locate the freeholder. In some cases an enquiry agent would be helpful to try and locate and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Howden.
My wife and I purchased a leasehold house in Howden. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Howden who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Howden conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of apartments in Howden both have about fifty years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Howden is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Howden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Do you have any advice for leasehold conveyancing in Howden with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Howden can be avoided where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority landlords or managing agents in Howden charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Howden.
Leasehold Conveyancing in Howden - Sample of Questions you should consider before buying
What is the name of the managing agents?
Can you inform me if there are any major works in the planning that will add a premium to the service charges?
How is the lease structured?