Fixed-fee leasehold conveyancing in Beaufort:

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Questions and Answers: Beaufort leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Beaufort. Before I get started I require certainty as to the remaining lease term.

If the lease is registered - and 99.9% are in Beaufort - 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.

I am intending to sublet my leasehold apartment in Beaufort. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A small minority of properties in Beaufort do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse 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 permission.

Having checked my lease I have discovered that there are only Seventy years left on my flat in Beaufort. I am keen to get lease extension but my freeholder is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 prove that you or your lawyers have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be helpful to try and locate and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Beaufort.

Last month I purchased a leasehold property in Beaufort. Am I liable to pay service charges for periods before completion of my purchase?

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. A critical element 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 Beaufort with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Beaufort can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • A minority of Beaufort leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a replacement share certificate can be a time consuming process and delays many a Beaufort home move. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I am the registered owner of a studio flat in Beaufort, conveyancing formalities finalised 1995. Can you work out an approximate cost of a lease extension? Corresponding properties in Beaufort with a long lease are worth £237,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2090

With 64 years left to run we estimate the premium for your lease extension to be between £15,200 and £17,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.