Frequently asked questions relating to Twyford leasehold conveyancing
My wife and I may need to let out our Twyford 1st floor flat for a while due to taking a sabbatical. We used a Twyford conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Twyford conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek permission from your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Twyford. I need to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended 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 would be useful to try and locate and prepare a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Twyford.
My wife and I purchased a leasehold flat in Twyford. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Twyford who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make 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 Twyford conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Twyford. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 ensure 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).
I work for a long established estate agent office in Twyford where we have experienced a few flat sales jeopardised as a result of short leases. I have received contradictory information from local Twyford conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 purchaser.
I invested in buying a split level flat in Twyford, conveyancing was carried out 2000. How much will my lease extension cost? Comparable flats in Twyford with an extended lease are worth £259,000. The average or mid-range amount of ground rent is £60 levied per year. The lease terminates on 21st October 2103
With 78 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
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