Fixed-fee leasehold conveyancing in Wilford:

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Examples of recent questions relating to leasehold conveyancing in Wilford

I am intending to sublet my leasehold flat in Wilford. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Wilford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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 permission.

Having checked my lease I have discovered that there are only Fifty years remaining on my flat in Wilford. I now want to get lease extension but my freeholder is can not be found. What are my options?

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 enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist may be helpful 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 covering Wilford.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Wilford. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Wilford are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Wilford in which case you should be looking for a Wilford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I am employed by a reputable estate agency in Wilford where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Wilford conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension process for the buyer?

Provided that 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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

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 provide any advice for leasehold conveyancing in Wilford with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Wilford can be reduced where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
  • The majority freeholders or Management Companies in Wilford levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Wilford.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Wilford leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the consents to hand you should not communicate with the landlord without checking with your solicitor in advance.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a duplicate share certificate is often a time consuming process and frustrates many a Wilford home move. Where a new share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I own a studio flat in Wilford, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Wilford with over 90 years remaining are worth £205,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2086

    With just 61 years remaining on your lease the likely cost is going to span between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Wilford