Southend On Sea leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Southend On Sea. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Southend On Sea - 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.
I wish to sublet my leasehold flat in Southend On Sea. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Southend On Sea conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or some other party prior to subletting. This means you not allowed to sublet without prior consent. Such consent should not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Looking forward to sign contracts shortly on a basement flat in Southend On Sea. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Southend On Sea should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- The physical extent of the demise. This will be the flat itself but may incorporate a loft or cellar if appropriate.
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Are you allowed to have a pet in the flat?
- Does the lease prevent you from letting out the flat, or working from home
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What options are open to you if a neighbour is in violation of a provision in their lease?
Can you offer any advice when it comes to finding a Southend On Sea conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Southend On Sea conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Southend On Sea conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
- What volume of lease extensions has the firm carried out in Southend On Sea in the last twenty four months?
Are there common deficiencies that you see in leases for Southend On Sea properties?
Leasehold conveyancing in Southend On Sea is not unique. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
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. Yorkshire Building Society, Virgin Money, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
I inherited a leasehold flat in Southend On Sea, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Southend On Sea with a long lease are worth £222,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2087
With just 61 years left to run we estimate the price of your lease extension to span between £21,900 and £25,200 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.