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Maldon leasehold conveyancing: Q and A’s

My wife and I may need to let out our Maldon 1st floor flat temporarily due to a new job. We instructed a Maldon conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Even though your last Maldon conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without 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 for their consent.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Maldon. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Maldon ?

Most houses in Maldon are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Maldon in which case you should be shopping around for a Maldon conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.

Back In 2006, I bought a leasehold house in Maldon. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Maldon who previously acted has long since retired.Do I pay?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Maldon conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am employed by a busy estate agent office in Maldon where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Maldon conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension process 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 need not have 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 extend the lease informally by agreement with the landlord 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 buyer.

What makes a Maldon lease problematic?

Leasehold conveyancing in Maldon is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the building
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

I inherited a 2 bed flat in Maldon, conveyancing having been completed 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Maldon with a long lease are worth £206,000. The ground rent is £55 per annum. The lease runs out on 21st October 2085

With only 60 years unexpired the likely cost is going to span between £19,000 and £22,000 plus 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 investigations. 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 you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Maldon