I am in need of some leasehold conveyancing in Ironbridge. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Ironbridge - 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 would like to sublet my leasehold flat in Ironbridge. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Ironbridge do not prevent subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I only have 62 years left on my lease in Ironbridge. I now want to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Ironbridge.

I’m about to sell my 2 bed apartment in Ironbridge.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a couple of flats in Ironbridge both have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

Leasehold Conveyancing in Ironbridge - Sample of Questions you should ask Prior to buying

Many Ironbridge leasehold properties will be liable to pay a service bill for maintenance of the block levied by the management company. Where you buy the flat you will have to meet this liability, usually quarterly accross the year. This can vary from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, this is usually not a large amount, say approximately £50-£100 but you should to check as on occasion it could be many hundreds of pounds. It would be a good idea to discover if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being permitted in certain buildings in Ironbridge. If you like the apartmentin Ironbridge but your dog can’t live with you then you will be faced hard determination. Please note that where the lease has less than eighty years it will impact the marketability of the apartment. Check with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension at some point and it is worth discovering how much this would cost. For most Ironbridgelease extensions you would need to own the property for 24 months before you are entitled to extend the lease.

Other Topics

Lease Extensions in Ironbridge