Examples of recent questions relating to leasehold conveyancing in Welwyn Garden City
I am on look out for some leasehold conveyancing in Welwyn Garden City. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Welwyn Garden City - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having checked my lease I have discovered that there are only 62 years left on my lease in Welwyn Garden City. I am keen to get lease extension but my landlord is missing. 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 Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Welwyn Garden City.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Welwyn Garden City. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Welwyn Garden City ?
The majority of houses in Welwyn Garden City are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Welwyn Garden City in which case you should be shopping around for a Welwyn Garden City conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.
I am a negotiator for a long established estate agency in Welwyn Garden City where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Welwyn Garden City conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
As long as 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
We expect to complete our sale of a £125000 flat in Welwyn Garden City next week. The freeholder has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Welwyn Garden City?
For the majority of leasehold sales in Welwyn Garden City conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Welwyn Garden City
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a ground floor flat in Welwyn Garden City, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Welwyn Garden City with over 90 years remaining are worth £207,000. The ground rent is £60 yearly. The lease terminates on 21st October 2095
With only 69 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
Other Topics