Wynyard leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Wynyard. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Wynyard - 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.
Frank (my husband) and I may need to rent out our Wynyard ground floor flat temporarily due to a new job. We instructed a Wynyard conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Wynyard do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review 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 consent.
There are only 62 years left on my flat in Wynyard. I now want to get lease extension but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, 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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist would be helpful to try and locate and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Wynyard.
I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Wynyard. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Wynyard ?
The majority of houses in Wynyard are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Wynyard in which case you should be shopping around for a Wynyard conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I am tempted by the attractive purchase price for a couple of flats in Wynyard which have about 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field
I purchased a leasehold flat in Wynyard, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Wynyard with over 90 years remaining are worth £251,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2094
With only 69 years left to run the likely cost is going 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 are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
Other Topics