Experts for Leasehold Conveyancing in Axminster

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Examples of recent questions relating to leasehold conveyancing in Axminster

My husband and I may need to let out our Axminster basement flat for a while due to a new job. We instructed a Axminster conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Axminster 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 review references. Experience dictates 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 consent.

There are only Sixty One years left on my lease in Axminster. I need to get lease extension but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the lessor. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Axminster.

Expecting to sign contracts shortly on a basement flat in Axminster. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Axminster should include some of the following:

  • Setting out your rights in respect of common areas in the block.For example, does the lease provide for a right of way over an accessway or hallways?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Axminster please ask your solicitor in ahead of your conveyancing in Axminster

    • Last month I purchased a leasehold property in Axminster. Do I have any liability for service charges for periods before my ownership?

    In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

    Do you have any top tips for leasehold conveyancing in Axminster from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Axminster can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Axminster charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Axminster.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Axminster state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. If you fail to have the approvals to hand do not communicate with the landlord without checking with your lawyer first.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate can be a time consuming process and frustrates many a Axminster conveyancing transaction. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I acquired a ground floor flat in Axminster, conveyancing was carried out 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Axminster with a long lease are worth £244,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2098

    With 75 years unexpired the likely cost is going to be between £10,500 and £12,000 as well as costs.

    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 investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Axminster