Examples of recent questions relating to leasehold conveyancing in Shirley
My partner and I may need to rent out our Shirley 1st floor flat for a while due to taking a sabbatical. We instructed a Shirley conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
A lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Shirley do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
There are only Fifty years remaining on my lease in Shirley. I need to get lease extension but my landlord is missing. What options are available to me?
If 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 lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to find the landlord. In some cases a specialist may be helpful to try and locate and prepare a report 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 proving the landlord’s absence and the application to the County Court covering Shirley.
Planning to sign contracts shortly on a garden flat in Shirley. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Shirley should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Does the lease require carpeting throughout thus preventing wood flooring?
- Are you allowed to have a pet in the flat?
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Shirley. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Shirley ?
Most houses in Shirley are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Shirley so you should seriously consider looking for a Shirley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Shirley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the price.
An example of a Freehold Enfranchisement decision for a Shirley premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired term was 98 years.
When it comes to leasehold conveyancing in Shirley what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Shirley. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
I own a 1 bedroom flat in Shirley, conveyancing having been completed 2007. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Shirley with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2100
With 74 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.