Common questions relating to Hornchurch leasehold conveyancing
I am intending to sublet my leasehold flat in Hornchurch. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Hornchurch do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Looking forward to complete next month on a studio apartment in Hornchurch. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hornchurch should include some of the following:
- Defining your legal entitlements in respect of common areas in the building.By way of example, does the lease contain a right of way over a path or staircase?
- Does the lease prohibit wood flooring?
- Does the lease prevent you from renting out the flat, or having a home office for business
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- Responsibility for repairing the window frames
- What the implications are if you breach a clause of your lease?
Back In 2008, I bought a leasehold flat in Hornchurch. Conveyancing and Britannia mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Hornchurch who previously acted has now retired.Any advice?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Hornchurch conveyancing solicitor to do this as it can be done on-line for a few pound. 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 employed by a busy estate agency in Hornchurch where we have witnessed a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Hornchurch conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
What advice can you give us when it comes to appointing a Hornchurch conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Hornchurch conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Hornchurch conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
- If they are not ALEP accredited then what is the reason?
I have had difficulty in seeking a lease extension in Hornchurch. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Hornchurch flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the unexpired residue of the current lease was 57.5 years.
I purchased a 2 bed flat in Hornchurch, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Hornchurch with over 90 years remaining are worth £240,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2078
With 52 years left to run we estimate the price of your lease extension to be between £35,200 and £40,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.