Top Five Questions relating to Bishopston leasehold conveyancing
My fiance and I may need to let out our Bishopston 1st floor flat temporarily due to a career opportunity. We instructed a Bishopston conveyancing firm in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Your lease governs relations between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Bishopston do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
Having checked my lease I have discovered that there are only Fifty years remaining on my flat in Bishopston. I need to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist may be useful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Bishopston.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bishopston. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Bishopston ?
The majority of houses in Bishopston are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Bishopston so you should seriously consider looking for a Bishopston conveyancing solicitor and check 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 tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
Can you offer any advice when it comes to appointing a Bishopston conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Bishopston conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Bishopston conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 apartment in Bishopston next Thursday . The management company has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bishopston?
For most leasehold sales in Bishopston conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Bishopston
- 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 am the registered owner of a 1st floor flat in Bishopston, conveyancing formalities finalised 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Bishopston with over 90 years remaining are worth £256,000. The ground rent is £45 per annum. The lease finishes on 21st October 2079
With 54 years unexpired the likely cost is going to span between £34,200 and £39,600 as well as professional fees.
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 due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
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