Examples of recent questions relating to leasehold conveyancing in Appleby In Westmorland
My wife and I may need to rent out our Appleby In Westmorland garden flat for a while due to taking a sabbatical. We instructed a Appleby In Westmorland conveyancing practice in 2003 but they have since shut and we did not have the foresight to get 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 leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Appleby In Westmorland do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Estate agents have just been given the go-ahead to market my basement apartment in Appleby In Westmorland.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold flat in Appleby In Westmorland. 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
What are your top tips when it comes to choosing a Appleby In Westmorland conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Appleby In Westmorland conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Appleby In Westmorland conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 garden flat in Appleby In Westmorland next week. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Appleby In Westmorland?
Appleby In Westmorland conveyancing on leasehold apartments often requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.
I am the registered owner of a garden flat in Appleby In Westmorland, conveyancing was carried out in 2005. How much will my lease extension cost? Equivalent properties in Appleby In Westmorland with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2083
With just 58 years unexpired the likely cost is going to be between £22,800 and £26,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
Other Topics