Examples of recent questions relating to leasehold conveyancing in Langley
I want to sublet my leasehold flat in Langley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Langley conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party in advance of subletting. This means that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 68 years remaining on my flat in Langley. I need to get lease extension but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist should be useful to carry out a search and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Langley.
I am hoping to complete next month on a garden flat in Langley. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Langley should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
I am tempted by the attractive purchase price for a couple of maisonettes in Langley which have approximately 50 years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold apartment in Langley is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less attractive. 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 property 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 premises 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 Langley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
Can you provide any advice for leasehold conveyancing in Langley from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Langley can be reduced where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
- Many freeholders or Management Companies in Langley charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have 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 Langley.
I am the proprietor of a garden flat in Langley. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Langley conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Langley flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired term was 69 years.