Tilbury leasehold conveyancing Example Support Desk Enquiries
My husband and I may need to rent out our Tilbury ground floor flat temporarily due to a career opportunity. We instructed a Tilbury conveyancing practice in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Even though your previous Tilbury conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to seek consent via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am hoping to sign contracts shortly on a leasehold property in Tilbury. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Tilbury should include some of the following:
- You should receive a copy of the lease
I have just started marketing my 2 bed apartment in Tilbury.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am looking at a two apartments in Tilbury both have about forty five years remaining on the lease term. Do I need to be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field
What are your top tips when it comes to finding a Tilbury conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Tilbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Tilbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions has the firm conducted in Tilbury in the last year?
I am the registered owner of a garden flat in Tilbury, conveyancing was carried out 2009. Can you work out an approximate cost of a lease extension? Similar flats in Tilbury with a long lease are worth £190,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2087
With 64 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.