Examples of recent questions relating to leasehold conveyancing in Goodmayes
My fiance and I may need to rent out our Goodmayes 1st floor flat temporarily due to a career opportunity. We instructed a Goodmayes conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Goodmayes do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I have recently realised that I have 68 years left on my flat in Goodmayes. I now wish to get lease extension but my landlord is can not be found. 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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent should be useful to carry out a search and to produce a report to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Goodmayes.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Goodmayes. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Goodmayes are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Goodmayes so you should seriously consider shopping around for a Goodmayes conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
My wife and I purchased a leasehold house in Goodmayes. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Goodmayes who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Goodmayes conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of flats in Goodmayes which have in the region of 50 years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Goodmayes. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
I am the leaseholder of a first floor flat in Goodmayes. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We can put you in touch with a Goodmayes conveyancing firm who can help.
An example of a Lease Extension decision for a Goodmayes residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the unexpired term as at the valuation date was 61.36 years.
I am the registered owner of a studio flat in Goodmayes, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Goodmayes with over 90 years remaining are worth £220,000. The ground rent is £60 per annum. The lease expires on 21st October 2093
You have 67 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.