Woodley leasehold conveyancing: Q and A’s
I want to sublet my leasehold flat in Woodley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Woodley do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
There are only Sixty One years left on my flat in Woodley. I now want to extend my lease but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document to be accepted by the court 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 absence and the vesting order request to the County Court covering Woodley.
Back In 2007, I bought a leasehold house in Woodley. Conveyancing and Britannia mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Woodley who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Woodley conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to finding a Woodley conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Woodley conveyancing practice) it is imperative 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 Woodley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
What makes a Woodley lease unmortgageable?
Leasehold conveyancing in Woodley is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- 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
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Norwich and Peterborough Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I acquired a 2 bed flat in Woodley, conveyancing was carried out 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Woodley with over 90 years remaining are worth £253,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2097
You have 76 years remaining on your lease we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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 before getting professional advice.