Examples of recent questions relating to leasehold conveyancing in Aspley Guise
I am on look out for some leasehold conveyancing in Aspley Guise. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Aspley Guise - then the leasehold title will always include the basic details 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.
My husband and I may need to sub-let our Aspley Guise garden flat for a while due to a new job. We instructed a Aspley Guise conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Your lease governs relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Aspley Guise do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
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 just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Aspley Guise. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Aspley Guise are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Aspley Guise so you should seriously consider shopping around for a Aspley Guise conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.
I am a negotiator for a long established estate agency in Aspley Guise where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Aspley Guise conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that 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 can avoid having to wait 2 years for a lease extension. 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 buyer.
All being well we will complete the sale of our £200000 maisonette in Aspley Guise in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Aspley Guise?
For most leasehold sales in Aspley Guise conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Aspley Guise
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a 1 bedroom flat in Aspley Guise, conveyancing formalities finalised 1999. How much will my lease extension cost? Similar flats in Aspley Guise with a long lease are worth £178,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2074
With only 53 years remaining on your lease we estimate the price of your lease extension to range between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.