Sample questions relating to Avonmouth leasehold conveyancing
I am in need of some leasehold conveyancing in Avonmouth. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Avonmouth - 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 partner and I may need to sub-let our Avonmouth garden flat temporarily due to taking a sabbatical. We used a Avonmouth conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will say 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. The majority of leases in Avonmouth do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Avonmouth. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Avonmouth ?
The majority of houses in Avonmouth are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Avonmouth in which case you should be looking for a Avonmouth conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.
Completion in due on our sale of a £150000 apartment in Avonmouth next week. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Avonmouth?
Avonmouth conveyancing on leasehold apartments more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
Are there frequently found problems that you encounter in leases for Avonmouth properties?
Leasehold conveyancing in Avonmouth is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I bought a ground floor flat in Avonmouth, conveyancing having been completed 2009. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Avonmouth with a long lease are worth £270,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2100
With only 79 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. 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 placing reliance on this information before getting professional advice.