Wisbech leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Wisbech. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Wisbech - 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.
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Wisbech. I am keen to get lease extension but my freeholder is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the lessor. In some cases a specialist should be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Wisbech.
I work for a busy estate agent office in Wisbech where we see a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Wisbech conveyancing firms. Please can you clarify whether the seller of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 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 at the same time as 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 provide any advice for leasehold conveyancing in Wisbech from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Wisbech can be reduced where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Wisbech leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the approvals to hand you should not communicate with the landlord without contacting your lawyer in advance.
We expect to complete the disposal of our £350000 maisonette in Wisbech next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Wisbech?
For most leasehold sales in Wisbech conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Wisbech
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a 1st floor flat in Wisbech, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Wisbech with an extended lease are worth £260,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2091
With just 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.