Top Five Questions relating to Bedwas leasehold conveyancing
My husband and I may need to let out our Bedwas ground floor flat temporarily due to a career opportunity. We instructed a Bedwas conveyancing practice in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Bedwas conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without prior permission. The consent must not not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I have just appointed agents to market my basement apartment in Bedwas.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge 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 unless 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.
Last month I purchased a leasehold house in Bedwas. 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. 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).
We expect to complete the sale of our £175000 garden flat in Bedwas on Thursday in a week. The management company has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Bedwas?
Bedwas conveyancing on leasehold flats usually involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
Are there common deficiencies that you come across in leases for Bedwas properties?
Leasehold conveyancing in Bedwas is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and TSB all have very detailed conveyancing instructions 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 grant the mortgage, forcing the purchaser to withdraw.
I bought a studio flat in Bedwas, conveyancing formalities finalised 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Bedwas with a long lease are worth £235,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2077
With 56 years unexpired the likely cost is going to range between £26,600 and £30,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.