Sample questions relating to Mildmay leasehold conveyancing
My partner and I may need to let out our Mildmay garden flat temporarily due to a career opportunity. We used a Mildmay conveyancing firm in 2003 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs relations between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Mildmay do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Mildmay. I am keen to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 prove that you have done all that could be expected to locate the freeholder. On the whole an enquiry agent would be helpful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Mildmay.
I have just started marketing my garden flat in Mildmay.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?
It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
What are your top tips when it comes to finding a Mildmay conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Mildmay conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Mildmay conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
In relation to leasehold conveyancing in Mildmay what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Mildmay. Most leases is drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- 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
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. Nationwide Building Society, Chelsea Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I own a ground floor flat in Mildmay, conveyancing formalities finalised in 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Mildmay with a long lease are worth £267,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2082
You have 59 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.