Questions and Answers: Wilsden leasehold conveyancing
Frank (my husband) and I may need to rent out our Wilsden basement flat for a while due to taking a sabbatical. We instructed a Wilsden conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Wilsden conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Back In 2009, I bought a leasehold house in Wilsden. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Wilsden who previously acted has long since retired.Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Wilsden conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Wilsden where we have witnessed a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Wilsden conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 needs to be completed before, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
Can you offer any advice when it comes to finding a Wilsden conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Wilsden conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Wilsden 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 useful:
- How familiar is the firm with lease extension legislation?
What are the common defects that you witness in leases for Wilsden properties?
There is nothing unique about leasehold conveyancing in Wilsden. All leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I own a studio flat in Wilsden, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Wilsden with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2092
With just 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.
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