Questions and Answers: Aston Clinton leasehold conveyancing
I am on look out for some leasehold conveyancing in Aston Clinton. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Aston Clinton - 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 Aston Clinton garden flat for a while due to taking a sabbatical. We instructed a Aston Clinton conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Aston Clinton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I have just appointed agents to market my garden apartment in Aston Clinton.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge 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 unless 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.
I own a leasehold flat in Aston Clinton. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Aston Clinton who previously acted has now retired.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Aston Clinton conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold flat in Aston Clinton. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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 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).
I invested in buying a studio flat in Aston Clinton, conveyancing formalities finalised 2010. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Aston Clinton with over 90 years remaining are worth £266,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2098
With 75 years left to run we estimate the price of your lease extension to span between £12,400 and £14,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.