Recently asked questions relating to Stretford leasehold conveyancing
I would like to rent out my leasehold flat in Stretford. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Stretford do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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.
Planning to complete next month on a basement flat in Stretford. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Stretford should include some of the following:
- Whether the lease restricts you from letting out the property, or having a home office for business
I am employed by a busy estate agent office in Stretford where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Stretford conveyancing firms. Could you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to choosing a Stretford conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Stretford conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Stretford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Stretford with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Stretford can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Stretford leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in advance.
I am the registered owner of a garden flat in Stretford, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Stretford with an extended lease are worth £189,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2078
With only 57 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of 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 clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.