Eastcote leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Eastcote. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Eastcote - then the leasehold title will always include the basic details 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 rent out my leasehold apartment in Eastcote. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Eastcote conveyancing lawyer 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 non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or some other party before subletting. The net result is you not allowed to sublet without prior consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
I only have Sixty One years remaining on my flat in Eastcote. I am keen to get lease extension but my landlord is absent. What are my options?
If you meet the appropriate requirements, 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 granted an extra 90 years by the Court. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be useful to conduct investigations and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Eastcote.
I am attracted to a two flats in Eastcote both have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Eastcote. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. It is often difficult to sell a property 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 recommend you seek professional help from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to finding a Eastcote conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Eastcote conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Eastcote conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- What volume of lease extensions have they conducted in Eastcote in the last year?
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Eastcote. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Lease Extension case for a Eastcote residence is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 53.26 years.