Recently asked questions relating to Redruth leasehold conveyancing
I am on look out for some leasehold conveyancing in Redruth. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Redruth - 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.
My husband and I may need to sub-let our Redruth ground floor flat temporarily due to a new job. We used a Redruth conveyancing firm in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs relations between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Redruth do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Back In 2003, I bought a leasehold flat in Redruth. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Redruth who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Redruth conveyancing firm to do this as you can do this on the Land Registry website for a few pound. 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.
What are your top tips when it comes to choosing a Redruth conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Redruth conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Redruth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- What volume of lease extensions have they completed in Redruth in the last year?
Can you provide any top tips for leasehold conveyancing in Redruth from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Redruth can be bypassed 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 conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Redruth state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Where you fail to have the consents in place do not contact the landlord without checking with your solicitor in advance.
I inherited a split level flat in Redruth, conveyancing formalities finalised 1997. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Redruth with a long lease are worth £193,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2081
You have 56 years unexpired the likely cost is going to range between £24,700 and £28,600 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
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