Westcliff On Sea leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Westcliff On Sea. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Westcliff On Sea - 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 Westcliff On Sea garden flat temporarily due to a career opportunity. We instructed a Westcliff On Sea conveyancing firm in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
A lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Westcliff On Sea do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Westcliff On Sea. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Westcliff On Sea ?
The majority of houses in Westcliff On Sea 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 Westcliff On Sea so you should seriously consider looking for a Westcliff On Sea conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I am attracted to a two flats in Westcliff On Sea which have approximately forty five years unexpired on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area
If all goes to plan we aim to complete our sale of a £275000 apartment in Westcliff On Sea next Wednesday . The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Westcliff On Sea?
Westcliff On Sea conveyancing on leasehold apartments typically involves administration charges invoiced by landlords agents :
- Answering pre-exchange enquiries
- Where consent is required before sale in Westcliff On Sea
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Westcliff On Sea Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
The answer will be helpful as a) areas could cause problems in the block as the communal areas may start to deteriorate if services remain unpaid b) if the leaseholders have an issue with the managing agents you will want to have complete disclosure
What restrictions exist in the Westcliff On Sea Lease?
Its a good idea to discover as much as you can about the company managing the block as they will either make living at the property much simpler or problematic. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. Ask other tenants if they are happy with their service. In conclusion, find out the dates that the service charges are due to the relevant party and precisely how they are spending the funds.