Top Five Questions relating to Windsor leasehold conveyancing
I wish to let out my leasehold flat in Windsor. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Windsor do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Windsor. I now want to get lease extension but my landlord is missing. What should I do?
If you qualify, 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 extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. On the whole a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Windsor.
I work for a busy estate agency in Windsor where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Windsor conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate 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. The benefit of this is that the buyer can avoid having 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 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 buyer.
What advice can you give us when it comes to choosing a Windsor conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Windsor conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Windsor conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
Completion in due on the sale of our £275000 maisonette in Windsor on Friday in a week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Windsor?
Windsor conveyancing on leasehold flats ordinarily results in administration charges raised by management companies :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Windsor
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a ground floor flat in Windsor, conveyancing formalities finalised in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Windsor with over 90 years remaining are worth £213,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2092
You have 67 years unexpired the likely cost is going to span between £12,400 and £14,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
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