Top Five Questions relating to Meliden leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Meliden. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Meliden - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My husband and I may need to let out our Meliden basement flat for a while due to a new job. We used a Meliden conveyancing firm in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Meliden do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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.
I have recently realised that I have 62 years unexpired on my flat in Meliden. I am keen to get lease extension but my freeholder is absent. 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 mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. On the whole a specialist may be useful to try and locate and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Meliden.
I am attracted to a couple of apartments in Meliden which have in the region of fifty years remaining on the lease term. Do I need to be concerned?
There are plenty of short leases in Meliden. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area
What are your top tips when it comes to finding a Meliden conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Meliden conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Meliden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- What volume of lease extensions has the firm completed in Meliden in the last 12 months?
I bought a garden flat in Meliden, conveyancing formalities finalised 2004. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Meliden with over 90 years remaining are worth £229,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2077
With just 54 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.