Frequently asked questions relating to Bishops Cleeve leasehold conveyancing
I would like to rent out my leasehold flat in Bishops Cleeve. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Bishops Cleeve conveyancing solicitor is not available you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I’m about to sell my ground floor flat in Bishops Cleeve.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.
I work for a long established estate agency in Bishops Cleeve where we have witnessed a few flat sales derailed as a result of short leases. I have received inconsistent advice from local Bishops Cleeve conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What advice can you give us when it comes to appointing a Bishops Cleeve conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Bishops Cleeve conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Bishops Cleeve conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
Completion in due on our sale of a £150000 garden flat in Bishops Cleeve next Monday . The management company has quoted £384 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Bishops Cleeve?
For the majority of leasehold sales in Bishops Cleeve 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 questions
- Where consent is required before sale in Bishops Cleeve
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a leasehold flat in Bishops Cleeve, conveyancing having been completed in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Bishops Cleeve with a long lease are worth £185,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2088
With only 63 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 as well as legals.
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 detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered 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.
Other Topics