Frequently asked questions relating to Uckfield leasehold conveyancing
I have recently realised that I have Fifty years left on my flat in Uckfield. I am keen to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, 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 granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Uckfield.
Planning to sign contracts shortly on a studio apartment in Uckfield. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Uckfield should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- What the implications are if you breach a clause of your lease?
My wife and I purchased a leasehold flat in Uckfield. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Uckfield who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Uckfield conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of apartments in Uckfield both have about 50 years remaining on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Uckfield is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under eighty 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 premises 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 Uckfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.
What advice can you give us when it comes to choosing a Uckfield conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Uckfield conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Uckfield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- Can they put you in touch with client in Uckfield who can give a testimonial?
- What are the legal fees for lease extension conveyancing?
I inherited a 1st floor flat in Uckfield, conveyancing formalities finalised in 1998. Can you work out an approximate cost of a lease extension? Comparable flats in Uckfield with an extended lease are worth £249,000. The ground rent is £50 per annum. The lease expires on 21st October 2105
With just 79 years left to run we estimate the premium for your lease extension to span between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.