Fixed-fee leasehold conveyancing in Elmers End:

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Examples of recent questions relating to leasehold conveyancing in Elmers End

I am intending to let out my leasehold apartment in Elmers End. 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 last Elmers End conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

I have recently realised that I have Fifty years left on my flat in Elmers End. I am keen to get lease extension but my freeholder is can not be found. 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 enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Elmers End.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Elmers End. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Elmers End are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Elmers End in which case you should be shopping around for a Elmers End conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First 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 will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a couple of apartments in Elmers End which have about fifty years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Elmers End is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than 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 Elmers End conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

Do you have any top tips for leasehold conveyancing in Elmers End with the purpose of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Elmers End can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers solicitors.
  • The majority landlords or managing agents in Elmers End levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. 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 delay in leasehold conveyancing in Elmers End.
  • A minority of Elmers End leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate is often a lengthy formality and delays many a Elmers End conveyancing deal. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Elmers End conveyancing firm to assist?

    in cases where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the sum to be paid.

    An example of a Lease Extension decision for a Elmers End flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 26.38 years.

    Other Topics

    Lease Extensions in Elmers End