Irlam leasehold conveyancing Example Support Desk Enquiries
I only have Seventy years left on my lease in Irlam. I need to extend my lease but my freeholder is missing. What options are available to me?
If you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. For most situations an enquiry agent may be helpful to try and locate and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Irlam.
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Irlam. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Irlam are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Irlam in which case you should be looking for a Irlam conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
I am a negotiator for a reputable estate agency in Irlam where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Irlam conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 appointing a Irlam conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Irlam conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Irlam conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Irlam from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Irlam can be bypassed if you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
- Many freeholders or managing agents in Irlam levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. 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 Irlam.
I inherited a studio flat in Irlam, conveyancing was carried out in 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Irlam with over 90 years remaining are worth £207,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2103
With only 80 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. 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. You should not move forward based on this information without first seeking the advice of a professional.