Examples of recent questions relating to leasehold conveyancing in Shotton
My wife and I may need to rent out our Shotton 1st floor flat for a while due to taking a sabbatical. We used a Shotton conveyancing practice in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Shotton do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I have recently realised that I have 68 years left on my flat in Shotton. I am keen to get lease extension but my freeholder is can not be found. What should I do?
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 mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the freeholder. On the whole an enquiry agent would be useful to carry out a search and prepare an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Shotton.
I own a leasehold house in Shotton. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Shotton who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Shotton conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any advice for leasehold conveyancing in Shotton with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Shotton can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority freeholders or managing agents in Shotton charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Shotton.
What are the frequently found defects that you encounter in leases for Shotton properties?
Leasehold conveyancing in Shotton is not unique. All leases is drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a leasehold flat in Shotton, conveyancing was carried out in 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Shotton with over 90 years remaining are worth £200,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2079
You have 55 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.