I am in need of some leasehold conveyancing in Mersea Island. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Mersea Island - then the leasehold title will always include the basic details 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.

Harry (my fiance) and I may need to let out our Mersea Island 1st floor flat for a while due to a new job. We instructed a Mersea Island conveyancing firm in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

A small minority of properties in Mersea Island do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold 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 am tempted by the attractive purchase price for a two flats in Mersea Island which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Mersea Island is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Mersea Island conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Do you have any top tips for leasehold conveyancing in Mersea Island with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Mersea Island can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
• Many freeholders or Management Companies in Mersea Island levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mersea Island.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Mersea Island state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you fail to have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance.

If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy process and slows down many a Mersea Island home move. Where a reissued share is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450000 apartment in Mersea Island in 10 days. The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Mersea Island?

Mersea Island conveyancing on leasehold maisonettes ordinarily results in administration charges levied by management companies :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Mersea Island
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Mersea Island leasehold property is £350. For Mersea Island conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I purchased a 2 bed flat in Mersea Island, conveyancing formalities finalised 2001. How much will my lease extension cost? Corresponding flats in Mersea Island with an extended lease are worth £255,000. The ground rent is £60 per annum. The lease expires on 21st October 2084

With just 59 years left to run the likely cost is going to span between £24,700 and £28,600 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Mersea Island