Sample questions relating to Biddenham leasehold conveyancing
I wish to let out my leasehold apartment in Biddenham. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease governs the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Biddenham do not prevent subletting altogether – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Back In 2003, I bought a leasehold house in Biddenham. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Biddenham who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Biddenham conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to choosing a Biddenham conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Biddenham conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Biddenham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If they are not ALEP accredited then why not?
Do you have any advice for leasehold conveyancing in Biddenham with the aim of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Biddenham can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
- Many landlords or Management Companies in Biddenham charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Biddenham.
What makes a Biddenham lease problematic?
There is nothing unique about leasehold conveyancing in Biddenham. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- 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
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Aldermore all have express 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 own a leasehold flat in Biddenham, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Biddenham with a long lease are worth £218,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2099
You have 77 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.