Top Five Questions relating to Mudeford leasehold conveyancing
Frank (my husband) and I may need to rent out our Mudeford 1st floor flat for a while due to taking a sabbatical. We instructed a Mudeford conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Even though your last Mudeford conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain permission via your landlord or some other party before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Mudeford. I now wish to extend my lease 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 granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the lessor. For most situations a specialist should be useful to try and locate and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Mudeford.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Mudeford. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Mudeford ?
Most houses in Mudeford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Mudeford in which case you should be shopping around for a Mudeford conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I am attracted to a two apartments in Mudeford which have in the region of 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 a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
I am a negotiator for a busy estate agent office in Mudeford where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Mudeford conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 disposal of the property.
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.
Mudeford Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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How many of the leaseholders are in arrears for their service charge payments?
In the main the cost for major works are not included within service charges, albeit that a few managing agents in Mudeford obliged tenants to contribute towards a reserve fund and this is used to offset against larger works.
How much is the ground rent and service charge?
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