Fixed-fee leasehold conveyancing in Lechlade:

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Examples of recent questions relating to leasehold conveyancing in Lechlade

Frank (my husband) and I may need to rent out our Lechlade basement flat temporarily due to taking a sabbatical. We instructed a Lechlade conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Even though your previous Lechlade conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I only have 72 years remaining on my lease in Lechlade. I am keen to get lease extension but my landlord is absent. What are my options?

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 done all that could be expected to track down the freeholder. In some cases a specialist should be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Lechlade.

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Lechlade. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Lechlade ?

The majority of houses in Lechlade are freehold rather than 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 purchasing in Lechlade so you should seriously consider shopping around for a Lechlade conveyancing solicitor 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. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Lechlade both have in the region of forty five years remaining on the lease term. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

Do you have any advice for leasehold conveyancing in Lechlade from the perspective of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Lechlade can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
  • Many freeholders or managing agents in Lechlade levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Lechlade.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Lechlade state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the paperwork to hand do not communicate with the landlord without checking with your conveyancer first.
  • Some Lechlade leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a new share certificate can be a time consuming process and delays many a Lechlade home move. Where a reissued share is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • I purchased a leasehold flat in Lechlade, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Lechlade with an extended lease are worth £170,000. The ground rent is £50 yearly. The lease ceases on 21st October 2103

    You have 78 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Lechlade