Guaranteed fixed fees for Leasehold Conveyancing in Portland

Require a conveyancing quote from a solicitor for leasehold conveyancing in Portland on your lender’s panel? Use our search tool to find approved local Portland conveyancing practitioners or national solicitors on your lender’s panel .

Frequently asked questions relating to Portland leasehold conveyancing

Frank (my husband) and I may need to sub-let our Portland basement flat for a while due to a career opportunity. We used a Portland conveyancing practice in 2001 but they have since shut 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?

A small minority of properties in Portland do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests 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 today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Portland. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Portland are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Portland in which case you should be looking for a Portland conveyancing solicitor and be sure that they are used to dealing with 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 to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Portland. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Portland who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Portland conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Portland both have approximately 50 years remaining on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

I work for a reputable estate agent office in Portland where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Portland conveyancing solicitors. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

I inherited a 1st floor flat in Portland, conveyancing was carried out in 2002. How much will my lease extension cost? Equivalent properties in Portland with over 90 years remaining are worth £247,000. The ground rent is £50 per annum. The lease finishes on 21st October 2088

You have 64 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Portland