Fixed-fee leasehold conveyancing in Tiptree:

When it comes to leasehold conveyancing in Tiptree, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Tiptree leasehold conveyancing

I am on look out for some leasehold conveyancing in Tiptree. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Tiptree - 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.

My wife and I may need to sub-let our Tiptree basement flat for a while due to a new job. We instructed a Tiptree conveyancing practice in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

A lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Tiptree do not contain subletting altogether – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I only have Seventy years remaining on my flat in Tiptree. I am keen to extend my lease but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. On the whole a specialist should be useful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Tiptree.

I work for a long established estate agent office in Tiptree where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Tiptree conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Do you have any top tips for leasehold conveyancing in Tiptree from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Tiptree can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
  • The majority landlords or Management Companies in Tiptree levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Tiptree.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Tiptree state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor first.
  • Some Tiptree leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 purchasers or their solicitors.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Organising a re-issued share certificate is often a lengthy formality and delays many a Tiptree home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

  • I purchased a basement flat in Tiptree, conveyancing having been completed 2012. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Tiptree with an extended lease are worth £232,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2085

    With just 61 years unexpired the likely cost is going to be between £19,000 and £22,000 plus costs.

    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. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Tiptree