Bideford leasehold conveyancing Example Support Desk Enquiries
Helen (my wife) and I may need to let out our Bideford 1st floor flat temporarily due to a new job. We used a Bideford conveyancing firm in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Bideford do not contain subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bideford. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bideford ?
Most houses in Bideford are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Bideford so you should seriously consider looking for a Bideford conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
I own a leasehold flat in Bideford. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bideford who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Bideford conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Completion in due on the sale of our £300000 garden flat in Bideford next week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Bideford?
For the majority of leasehold sales in Bideford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Bideford
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Are there frequently found problems that you witness in leases for Bideford properties?
There is nothing unique about leasehold conveyancing in Bideford. All leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
I inherited a basement flat in Bideford, conveyancing was carried out 2009. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Bideford with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2097
With 77 years left to run the likely cost is going to range between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. 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 take any other action based on this information before seeking the advice of a professional.