Examples of recent questions relating to leasehold conveyancing in Silverton
Frank (my husband) and I may need to sub-let our Silverton 1st floor flat for a while due to taking a sabbatical. We instructed a Silverton conveyancing firm in 2001 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
A lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Silverton do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I have recently realised that I have Fifty years unexpired on my lease in Silverton. I am keen to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. On the whole an enquiry agent should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Silverton.
Planning to sign contracts shortly on a basement flat in Silverton. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Silverton should include some of the following:
- The physical extent of the premises. This will be the apartment itself but might include a roof space or cellar if appropriate.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Silverton. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Silverton ?
The majority of houses in Silverton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Silverton so you should seriously consider shopping around for a Silverton conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
What are your top tips when it comes to finding a Silverton conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Silverton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Silverton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- Can they put you in touch with client in Silverton who can give a testimonial?
I am the registered owner of a basement flat in Silverton, conveyancing formalities finalised 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Silverton with an extended lease are worth £212,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2097
With 72 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. 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 want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
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