Recently asked questions relating to Alderley Edge leasehold conveyancing
I am in need of some leasehold conveyancing in Alderley Edge. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Alderley Edge - 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 sub-let our Alderley Edge basement flat for a while due to a new job. We instructed a Alderley Edge conveyancing firm in 2003 but they have since shut 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?
Notwithstanding that your last Alderley Edge conveyancing solicitor is not available you can review your lease to see if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
My wife and I purchased a leasehold house in Alderley Edge. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Alderley Edge who previously acted has now retired.Do I pay?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Alderley Edge conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Alderley Edge from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Alderley Edge can be bypassed where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
- Many landlords or Management Companies in Alderley Edge charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Alderley Edge.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £425000 maisonette in Alderley Edge on Friday in a week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Alderley Edge?
Alderley Edge conveyancing on leasehold maisonettes usually requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a split level flat in Alderley Edge, conveyancing having been completed 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Alderley Edge with over 90 years remaining are worth £168,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2086
With just 65 years unexpired the likely cost is going to span between £15,200 and £17,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.