Questions and Answers: Lanchester leasehold conveyancing
I would like to sublet my leasehold apartment in Lanchester. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Lanchester conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have recently realised that I have 72 years unexpired on my flat in Lanchester. I now wish to extend my lease but my landlord is can not be found. What should I do?
On the basis that 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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be useful to carry out a search and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Lanchester.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Lanchester. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Lanchester ?
The majority of houses in Lanchester are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Lanchester so you should seriously consider looking for a Lanchester conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
I work for a reputable estate agent office in Lanchester where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Lanchester conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that 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. This means that the proposed purchaser can avoid having to sit tight for 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.
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 purchaser.
Can you provide any advice for leasehold conveyancing in Lanchester from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lanchester can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
- Many landlords or Management Companies in Lanchester charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Lanchester.
Lanchester Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying
Best to be warned if redecorating or some other significant cost is due in the foreseeable future that will be shared amongst the leaseholders and could well dramatically impact the level of the maintenance fees or result in a one off invoice.
How many years are left on the lease?
Is the freehold reversion owned jointly by the tenants?