I want to let out my leasehold apartment in Thurrock. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your previous Thurrock conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must obtain permission from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

Due to exchange soon on a ground floor flat in Thurrock. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark

I am attracted to a two apartments in Thurrock which have in the region of fifty years left on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I am employed by a long established estate agent office in Thurrock where we have experienced a few leasehold sales derailed due to short leases. I have been given contradictory information from local Thurrock conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 the common problems that you encounter in leases for Thurrock properties?

Leasehold conveyancing in Thurrock is not unique. Most leases are individual and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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. HSBC Bank, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I am the registered owner of a leasehold flat in Thurrock, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Thurrock with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease expires on 21st October 2084

You have 59 years remaining on your lease we estimate the price of your lease extension to span between £24,700 and £28,600 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Thurrock