Fixed-fee leasehold conveyancing in Walton on the Naze:

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Leasehold conveyancing in Walton on the Naze is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Walton on the Naze and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Walton on the Naze leasehold conveyancing

I want to sublet my leasehold flat in Walton on the Naze. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Walton on the Naze do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Walton on the Naze. I am keen to extend my lease but my landlord is missing. What options are available to me?

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 enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. For most situations a specialist would be useful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Walton on the Naze.

I am tempted by the attractive purchase price for a couple of apartments in Walton on the Naze which have about 50 years unexpired on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

Can you offer any advice when it comes to appointing a Walton on the Naze conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Walton on the Naze conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Walton on the Naze 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:

  • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Walton on the Naze from the point of view of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Walton on the Naze can be avoided if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
    • The majority freeholders or Management Companies in Walton on the Naze charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Walton on the Naze.
  • A minority of Walton on the Naze 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 obtain bank and professional references. Any 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 have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and delays many a Walton on the Naze home move. Where a reissued share certificate is necessary, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Walton on the Naze Conveyancing for Leasehold Flats - Sample of Queries before buying

      Is the freehold owned jointly by the tenants? Generally speaking the cost for major works tend not to be included within maintenance charges, although a few managing agents in Walton on the Naze ask leasehold owners to contribute towards a sinking fund and this is used to offset against major works. Best to be warned if redecorating or some other significant cost is due shortly to be shared by the leaseholders and will dramatically impact the level of the service fees or necessitate a specific invoice.

    Other Topics

    Lease Extensions in Walton on the Naze