Experts for Leasehold Conveyancing in Newent

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Newent, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Newent leasehold conveyancing

I want to rent out my leasehold flat in Newent. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Newent 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.

There are only 72 years left on my lease in Newent. I now wish to get lease extension but my landlord is absent. What are my options?

If you qualify, 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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to find the lessor. For most situations a specialist would be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Newent.

Back In 2009, I bought a leasehold house in Newent. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Newent who previously acted has now retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Newent conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agency in Newent where we have experienced a few leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Newent conveyancing firms. Could you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

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 purchaser.

What makes a Newent lease problematic?

Leasehold conveyancing in Newent is not unique. Most leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the building
  • A duty to insure the building
  • 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

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and TSB all have express conveyancing instructions 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 grant the mortgage, obliging the buyer to pull out.

I bought a 1st floor flat in Newent, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Newent with a long lease are worth £199,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2085

With 64 years left to run the likely cost is going to be between £16,200 and £18,600 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Newent