Sample questions relating to Rayleigh leasehold conveyancing
I want to sublet my leasehold apartment in Rayleigh. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Rayleigh do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review 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 only have 62 years remaining on my flat in Rayleigh. I need to extend my lease but my landlord is missing. What are my options?
If 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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the lessor. For most situations an enquiry agent would be useful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Rayleigh.
I am attracted to a two flats in Rayleigh which have approximately fifty years remaining on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Can you offer any advice when it comes to finding a Rayleigh conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Rayleigh conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Rayleigh conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
What are the frequently found problems that you witness in leases for Rayleigh properties?
There is nothing unique about leasehold conveyancing in Rayleigh. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
I am the registered owner of a split level flat in Rayleigh, conveyancing was carried out in 2001. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Rayleigh with a long lease are worth £241,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2076
With just 55 years remaining on your lease we estimate the price of your lease extension to be between £26,600 and £30,800 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 the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.