Aperfield leasehold conveyancing Example Support Desk Enquiries
I only have Sixty One years remaining on my flat in Aperfield. I need to get lease extension but my landlord is can not be found. What should I do?
If 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. On the whole a specialist may be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Aperfield.
I am looking at a couple of maisonettes in Aperfield both have approximately fifty years left 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 a lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
I work for a reputable estate agent office in Aperfield where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Aperfield conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. 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 purchaser.
Do you have any top tips for leasehold conveyancing in Aperfield from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Aperfield can be reduced where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or managing agents in Aperfield levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Aperfield.
Despite our best efforts, we have been unsuccessful in seeking a lease extension in Aperfield. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Aperfield conveyancing firm who can help.
An example of a Lease Extension decision for a Aperfield property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 50.57 years.
In relation to leasehold conveyancing in Aperfield what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Aperfield. All leases are unique and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.