Sample questions relating to Shenfield leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Shenfield. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Shenfield - 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.
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Shenfield. I need to extend my lease but my freeholder 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you have used your best endeavours to track down the lessor. For most situations an enquiry agent should be helpful to conduct investigations and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Shenfield.
I am attracted to a two maisonettes in Shenfield both have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field
I am employed by a long established estate agent office in Shenfield where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Shenfield conveyancing firms. Please can you shed some light as to whether the vendor of a flat can start the lease extension process 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
Can you provide any top tips for leasehold conveyancing in Shenfield with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Shenfield can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Shenfield state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you dont have the approvals to hand do not contact the landlord without contacting your conveyancer in the first instance.
Shenfield Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders enjoy control and although a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Many Shenfield leasehold apartments will have a service bill for the upkeep of the block set on behalf of the landlord. Should you purchase the property you will have to meet this amount, normally periodically throughout the year. This could vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant sum, say around £50-£100 but you need to enquire it because sometimes it could be many hundreds of pounds.
How many of the leaseholders are in arrears for their maintenance charge payments?