Frequently asked questions relating to Altrincham leasehold conveyancing
Harry (my fiance) and I may need to rent out our Altrincham ground floor flat temporarily due to a career opportunity. We used a Altrincham conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Altrincham conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without prior consent. The consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Planning to sign contracts shortly on a ground floor flat in Altrincham. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Altrincham should include some of the following:
- Setting out your rights in respect of common areas in the block.For example, does the lease permit a right of way over a path or hallways?
I today plan to offer on a 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 rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Altrincham. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Altrincham ?
Most houses in Altrincham are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Altrincham so you should seriously consider shopping around for a Altrincham conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
Last month I purchased a leasehold house in Altrincham. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you provide any advice for leasehold conveyancing in Altrincham from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Altrincham can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
- Many landlords or managing agents in Altrincham levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Altrincham.
I own a leasehold flat in Altrincham, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Altrincham with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2081
With just 60 years left to run we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.