Questions and Answers: Urmston leasehold conveyancing
I am intending to let out my leasehold apartment in Urmston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Urmston do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
There are only Sixty One years unexpired on my lease in Urmston. I am keen to get lease extension but my landlord is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to try and locate and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Urmston.
Can you offer any advice when it comes to choosing a Urmston conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Urmston conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Urmston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
Do you have any top tips for leasehold conveyancing in Urmston from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Urmston can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
- The majority freeholders or Management Companies in Urmston charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Urmston.
In relation to leasehold conveyancing in Urmston what are the most frequent lease problems?
Leasehold conveyancing in Urmston is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
I own a basement flat in Urmston, conveyancing having been completed 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Urmston with over 90 years remaining are worth £265,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2100
With just 77 years left to run we estimate the premium for your lease extension to span between £11,400 and £13,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you 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.