Fixed-fee leasehold conveyancing in Aston Clinton:

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Examples of recent questions relating to leasehold conveyancing in Aston Clinton

My fiance and I may need to let out our Aston Clinton ground floor flat temporarily due to taking a sabbatical. We used a Aston Clinton conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Aston Clinton do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I have just started marketing my 2 bed flat in Aston Clinton.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

The sensible thing to do is discharge the invoice 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 management companies 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. This will smooth the conveyancing process.

Back In 2001, I bought a leasehold house in Aston Clinton. Conveyancing and Yorkshire Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Aston Clinton who previously acted has now retired.What should I do?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Aston Clinton conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to appointing a Aston Clinton conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Aston Clinton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Aston Clinton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • Can they put you in touch with client in Aston Clinton who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Aston Clinton from the perspective of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Aston Clinton can be bypassed where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers representatives.
    • The majority landlords or Management Companies in Aston Clinton levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Aston Clinton.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Aston Clinton state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the paperwork to hand you should not contact the landlord without checking with your lawyer first.
  • Some Aston Clinton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I acquired a studio flat in Aston Clinton, conveyancing was carried out in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Aston Clinton with an extended lease are worth £234,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2080

    You have 58 years remaining on your lease we estimate the premium for your lease extension to span between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Aston Clinton