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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Thurrock, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Thurrock leasehold conveyancing

I am in need of some leasehold conveyancing in Thurrock. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Thurrock - 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.

Jane (my partner) and I may need to rent out our Thurrock garden flat temporarily due to a career opportunity. We instructed a Thurrock conveyancing practice in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Thurrock do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review 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 consent.

I am looking at a couple of apartments in Thurrock which have in the region of forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Thurrock is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Thurrock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in Thurrock. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Thurrock with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Thurrock can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
  • Many landlords or Management Companies in Thurrock levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Thurrock.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Thurrock leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the consents to hand you should not contact the landlord without contacting your solicitor before hand.
  • A minority of Thurrock leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Obtaining a new share certificate can be a lengthy formality and delays many a Thurrock conveyancing deal. Where a new share certificate is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

    • I own a garden flat in Thurrock, conveyancing formalities finalised in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Thurrock with an extended lease are worth £243,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2082

    You have 58 years left to run we estimate the premium for your lease extension to span between £26,600 and £30,800 plus legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Thurrock