Recently asked questions relating to Shenfield leasehold conveyancing
I am in need of some leasehold conveyancing in Shenfield. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Shenfield - 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.
Helen (my wife) and I may need to sub-let our Shenfield basement flat temporarily due to a new job. We used a Shenfield conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Shenfield conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Expecting to exchange soon on a studio apartment in Shenfield. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Shenfield should include some of the following:
- The total extent of the demise. This will be the property itself but may incorporate a roof space or cellar if applicable.
I’m about to sell my garden apartment in Shenfield.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a long established estate agency in Shenfield where we see a few flat sales put at risk due to short leases. I have received conflicting advice from local Shenfield conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
I inherited a 1 bedroom flat in Shenfield, conveyancing formalities finalised 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Shenfield with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2076
With only 52 years left to run we estimate the premium for your lease extension to range between £34,200 and £39,600 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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