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Questions and Answers: Stony Stratford leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Stony Stratford. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and almost all are in Stony Stratford - then the leasehold title will always include the basic details 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.

Harry (my fiance) and I may need to sub-let our Stony Stratford basement flat for a while due to a career opportunity. We instructed a Stony Stratford conveyancing firm in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

A lease governs relations between the freeholder and you the flat owner; 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 specific ban or restriction, subletting is permitted. The majority of leases in Stony Stratford do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Looking forward to exchange soon on a basement flat in Stony Stratford. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • Does the lease prohibit wood flooring?
  • 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
  • Changes to the flat (alterations and additions)
  • 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
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Stony Stratford please ask your lawyer in advance of your conveyancing in Stony Stratford

    • My wife and I purchased a leasehold flat in Stony Stratford. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Stony Stratford who acted for me is not around.What should I do?

    First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Stony Stratford conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    What advice can you give us when it comes to choosing a Stony Stratford conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Stony Stratford conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Stony Stratford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Stony Stratford who can give a testimonial?

    • I own a 2 bed flat in Stony Stratford, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Stony Stratford with an extended lease are worth £258,000. The ground rent is £50 per annum. The lease ceases on 21st October 2097

    With 75 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stony Stratford