Top Five Questions relating to Hurworth leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Hurworth. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Hurworth - 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.
My wife and I may need to let out our Hurworth basement flat for a while due to a career opportunity. We used a Hurworth conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Hurworth do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests 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.
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Hurworth. I now want to extend my lease but my landlord is missing. 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 an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent may be helpful to carry out a search and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Hurworth.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Hurworth. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Hurworth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Hurworth so you should seriously consider shopping around for a Hurworth conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.
Last month I purchased a leasehold house in Hurworth. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a split level flat in Hurworth, conveyancing formalities finalised in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Hurworth with over 90 years remaining are worth £167,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2074
You have 53 years left to run we estimate the premium for your lease extension to be between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.