Leasehold Conveyancing in Waddon - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Waddon, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Waddon leasehold conveyancing

Helen (my wife) and I may need to rent out our Waddon garden flat for a while due to a career opportunity. We instructed a Waddon conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Waddon 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.

I am hoping to complete next month on a ground floor flat in Waddon. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Waddon should include some of the following:

  • You should be sent a copy of the lease
  • Are pets allowed in the flat?
  • Whether the lease restricts you from letting out the flat, or working from home
  • You must be told what counts as a Nuisance in the lease
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Waddon please ask your conveyancer in advance of your conveyancing in Waddon

    • I am tempted by the attractive purchase price for a couple of apartments in Waddon both have approximately fifty years left 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 a lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

    I am a negotiator for a reputable estate agency in Waddon where we see a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Waddon conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?

    Provided that the seller has owned the lease 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 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 before, or simultaneously with completion of the sale.

    An alternative approach is 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.

    What are your top tips when it comes to appointing a Waddon conveyancing firm to deal with our lease extension?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Waddon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Waddon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

    • How experienced is the practice with lease extension legislation?
  • What are the costs for lease extension work?

    • Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Waddon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.

    An example of a Freehold Enfranchisement decision for a Waddon residence is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case was in relation to 4 flats. The the unexpired residue of the current lease was 98 years.

    Other Topics

    Lease Extensions in Waddon