Recently asked questions relating to Marlow leasehold conveyancing
I want to rent out my leasehold apartment in Marlow. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Marlow do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I have recently realised that I have Seventy years unexpired on my lease in Marlow. I need to get lease extension but my freeholder is can not be found. What are my options?
If 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases a specialist may be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Marlow.
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Marlow. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Marlow ?
The majority of houses in Marlow are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Marlow so you should seriously consider shopping around for a Marlow conveyancing solicitor and be sure that they are used to advising on 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 will likely included provisions such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
My wife and I purchased a leasehold house in Marlow. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Marlow who previously acted has long since retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Marlow conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Marlow with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Marlow can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the buyers lawyers.
- The majority freeholders or managing agents in Marlow levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Marlow.
I am the registered owner of a 1 bedroom flat in Marlow, conveyancing was carried out 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Marlow with over 90 years remaining are worth £188,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2094
With only 73 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered 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 before getting professional advice.