Experts for Leasehold Conveyancing in Wickford

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Frequently asked questions relating to Wickford leasehold conveyancing

Harry (my fiance) and I may need to sub-let our Wickford ground floor flat temporarily due to a career opportunity. We used a Wickford conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

The lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Wickford do not contain subletting altogether – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

My wife and I purchased a leasehold house in Wickford. Conveyancing and Halifax mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Wickford who acted for me is not around.Do I pay?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Wickford conveyancing solicitor 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Wickford which have in the region of forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Wickford. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Wickford with the intention of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Wickford can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Wickford state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you fail to have the approvals to hand do not contact the landlord without contacting your solicitor before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Organising a duplicate share certificate can be a lengthy formality and delays many a Wickford conveyancing transaction. If a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Are there common deficiencies that you come across in leases for Wickford properties?

    Leasehold conveyancing in Wickford is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Leasehold Conveyancing in Wickford - Sample of Questions you should ask Prior to buying

      This question is useful as a) areas may result in problems in the building as the communal areas may start to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the managing agents you will want to have full disclosure Please note that where the lease has no more than eighty years it will have adverse implications on the salability of the property. Check with your lender that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you will need to own the premises for 24 months in order to be entitled to extend the lease. How much is the ground rent and service charge?

    Other Topics

    Lease Extensions in Wickford