Recently asked questions relating to Whickham leasehold conveyancing
Helen (my wife) and I may need to let out our Whickham 1st floor flat temporarily due to a new job. We instructed a Whickham conveyancing practice 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 small minority of properties in Whickham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold 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.
There are only 62 years left on my lease in Whickham. I now want to get lease extension but my freeholder is absent. What are my options?
If you meet the appropriate requirements, 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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. For most situations an enquiry agent may be useful to carry out a search and prepare an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Whickham.
I work for a long established estate agent office in Whickham where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Whickham conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
Can you offer any advice when it comes to appointing a Whickham conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Whickham conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Whickham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How many lease extensions have they carried out in Whickham in the last twenty four months?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £175000 garden flat in Whickham in six days. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Whickham?
Whickham conveyancing on leasehold maisonettes usually requires the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I acquired a basement flat in Whickham, conveyancing having been completed 9 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Whickham with over 90 years remaining are worth £184,000. The ground rent is £65 per annum. The lease expires on 21st October 2103
You have 77 years unexpired we estimate the premium for your lease extension to span between £12,400 and £14,200 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
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