Bidford On Avon leasehold conveyancing: Q and A’s
I want to rent out my leasehold apartment in Bidford On Avon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous Bidford On Avon conveyancing lawyer is no longer around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining consent. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Bidford On Avon. I now wish to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the lessor. For most situations an enquiry agent would be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Bidford On Avon.
I have just started marketing my 2 bed flat in Bidford On Avon.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a two apartments in Bidford On Avon both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field
Completion in due on the sale of our £175000 maisonette in Bidford On Avon next week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Bidford On Avon?
Bidford On Avon conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by managing agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Bidford On Avon
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I purchased a 2 bed flat in Bidford On Avon, conveyancing formalities finalised in 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Bidford On Avon with over 90 years remaining are worth £173,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2083
You have 58 years unexpired the likely cost is going to range between £24,700 and £28,600 plus costs.
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 in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
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