Quality lawyers for Leasehold Conveyancing in Stansted

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Questions and Answers: Stansted leasehold conveyancing

I would like to sublet my leasehold apartment in Stansted. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A small minority of properties in Stansted do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I only have 68 years left on my flat in Stansted. I need to extend my lease but my landlord is absent. What options are available to me?

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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the lessor. For most situations a specialist would be helpful to conduct investigations and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Stansted.

Looking forward to sign contracts shortly on a studio apartment in Stansted. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Stansted should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the flat itself but could also incorporate a loft or cellar if applicable.
  • Whether the lease restricts you from subletting the property, or working from home
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Stansted please ask your lawyer in ahead of your conveyancing in Stansted

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 garden flat in Stansted in just under a week. The management company has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Stansted?

    For most leasehold sales in Stansted conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering pre-contract enquiries
    • Where consent is required before sale in Stansted
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Stansted leasehold property is £350. For Stansted conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

    What makes a Stansted lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Stansted. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Skipton Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

    I purchased a 2 bed flat in Stansted, conveyancing formalities finalised in 2007. Can you work out an approximate cost of a lease extension? Corresponding flats in Stansted with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease terminates on 21st October 2105

    With 80 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as legals.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stansted