I am in need of some leasehold conveyancing in Rowley Regis. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Rowley Regis - 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.

I am intending to sublet my leasehold flat in Rowley Regis. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Rowley Regis do not prevent subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I have recently realised that I have 62 years unexpired on my flat in Rowley Regis. I now want to extend my lease but my freeholder is absent. What should I do?

On the basis that 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 extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. For most situations a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Rowley Regis.

I own a leasehold flat in Rowley Regis. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. 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 1997. The conveyancing solicitor in Rowley Regis who previously acted has long since retired.What should I do?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Rowley Regis conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Rowley Regis both have approximately forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Rowley Regis is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rowley Regis conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Rowley Regis Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

You will want to discover as much as possible regarding the company managing the building as they can either make your life much simpler or a lot more difficult. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. You should not be afraid to ask other people if they are happy with their service. In conclusion, find out the dates that the maintenance fees are due to the managing agents and precisely how they are spending the funds. How much is the ground rent and service charge? The best form of lease arrangement is where the freehold interest is owned by the leaseholders. In this scenario the lessees have being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Rowley Regis