Leasehold Conveyancing in Walton - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Walton leasehold conveyancing

I wish to sublet my leasehold flat in Walton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

A small minority of properties in Walton do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I only have 68 years unexpired on my lease in Walton. I need to get lease extension but my landlord is can not be found. 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 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist should be useful to try and locate and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Walton.

I am attracted to a couple of maisonettes in Walton which have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Walton. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Walton with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Walton can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers conveyancers.
  • Many freeholders or managing agents in Walton charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for 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 reason for delay in leasehold conveyancing in Walton.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Walton leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. Should you dont have the consents in place do not communicate with the landlord without checking with your solicitor in advance.
  • Some Walton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Walton conveyancing deal. Where a new share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

    • After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Walton. Can we issue an application to the Residential Property Tribunal Service?

    Most certainly. We can put you in touch with a Walton conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Walton residence is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The unexpired lease term was 82.93 years.

    In relation to leasehold conveyancing in Walton what are the most frequent lease problems?

    Leasehold conveyancing in Walton is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • 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

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Walton