Common questions relating to Foots Cray leasehold conveyancing
I wish to rent out my leasehold apartment in Foots Cray. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Foots Cray conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain consent from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I only have Sixty One years left on my flat in Foots Cray. I need to extend my lease but my freeholder is absent. What should I do?
On the basis that 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 enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole a specialist would be useful to conduct investigations and prepare an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Foots Cray.
I am looking at a couple of flats in Foots Cray which have approximately 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Foots Cray is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Foots Cray 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.
Can you offer any advice when it comes to choosing a Foots Cray conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Foots Cray conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Foots Cray conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then why not?
Can you provide any advice for leasehold conveyancing in Foots Cray from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Foots Cray can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Foots Cray leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such works. Should you dont have the consents in place do not communicate with the landlord without checking with your lawyer in the first instance.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Foots Cray conveyancing firm to help?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the amount due.
An example of a Lease Extension decision for a Foots Cray flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.