Experts for Leasehold Conveyancing in Repton

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Examples of recent questions relating to leasehold conveyancing in Repton

Having had my offer accepted I require leasehold conveyancing in Repton. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Repton - then the leasehold title will always include the short particulars 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 partner and I may need to rent out our Repton ground floor flat for a while due to a career opportunity. We instructed a Repton conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease governs the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Repton do not prevent subletting altogether – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I only have Sixty One years remaining on my lease in Repton. I now want to extend my lease but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, 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 lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to find the freeholder. In some cases a specialist may be useful to carry out a search and to produce a report to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Repton.

Last month I purchased a leasehold property in Repton. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Repton with the intention of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Repton can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
  • Many landlords or Management Companies in Repton levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Repton.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Repton leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you fail to have the paperwork to hand do not contact the landlord without contacting your lawyer first.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a lengthy formality and delays many a Repton conveyancing transaction. If a new share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

    • I bought a 2 bed flat in Repton, conveyancing was carried out in 2010. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Repton with a long lease are worth £264,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2094

    With just 69 years remaining on your lease the likely cost is going to span between £13,300 and £15,400 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Repton