Frequently asked questions relating to Bloxham leasehold conveyancing
I wish to sublet my leasehold apartment in Bloxham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease dictates relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Bloxham do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Estate agents have just been given the go-ahead to market my 2 bed flat in Bloxham.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 unless 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bloxham. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Bloxham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Bloxham so you should seriously consider looking for a Bloxham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
Last month I purchased a leasehold flat in Bloxham. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 apartment in Bloxham next Thursday . The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bloxham?
Bloxham conveyancing on leasehold apartments more often than not necessitates the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.
I own a split level flat in Bloxham, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Bloxham with a long lease are worth £195,000. The ground rent is £50 per annum. The lease runs out on 21st October 2088
With only 62 years left to run we estimate the price of your lease extension to be between £20,000 and £23,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
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