Recently asked questions relating to Audlem leasehold conveyancing
Frank (my husband) and I may need to let out our Audlem ground floor flat for a while due to a career opportunity. We used a Audlem conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Audlem conveyancing solicitor is no longer available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I own a leasehold flat in Audlem. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Audlem who acted for me is not around.What should I do?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Audlem conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two flats in Audlem both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Audlem. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
I am a negotiator for a long established estate agency in Audlem where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Audlem conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 125000 maisonette in Audlem in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Audlem?
Audlem conveyancing on leasehold maisonettes more often than not necessitates the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to sell the property.
I invested in buying a basement flat in Audlem, conveyancing having been completed 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Audlem with a long lease are worth £265,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2080
With just 54 years left to run we estimate the price of your lease extension to range between £32,300 and £37,400 plus costs.
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. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.