Wendover leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Wendover. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Wendover - then the leasehold title will always include the short particulars 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.
My fiance and I may need to rent out our Wendover garden flat for a while due to taking a sabbatical. We used a Wendover conveyancing firm in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Wendover conveyancing solicitor is not available you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I only have 62 years remaining on my flat in Wendover. I am keen to get lease extension but my landlord is can not be found. What are my options?
On the basis that you qualify, 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. However, you will be required to prove that you have used your best endeavours to find the landlord. For most situations an enquiry agent would be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Wendover.
I’m about to sell my ground floor flat in Wendover.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
What makes a Wendover lease problematic?
There is nothing unique about leasehold conveyancing in Wendover. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- 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
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
I own a ground floor flat in Wendover, conveyancing formalities finalised 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Wendover with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2091
With only 67 years unexpired the likely cost is going to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
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