Top Five Questions relating to Boscombe leasehold conveyancing
I am on look out for some leasehold conveyancing in Boscombe. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Boscombe - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Helen (my wife) and I may need to let out our Boscombe ground floor flat for a while due to taking a sabbatical. We used a Boscombe conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Boscombe do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
My wife and I purchased a leasehold house in Boscombe. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Boscombe who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Boscombe conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agency in Boscombe where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Boscombe conveyancing firms. Can you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 buyer.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £125000 flat in Boscombe next week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Boscombe?
Boscombe conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to sell the property.
Boscombe Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
How much is the maintenance charge and ground rent on the apartment?
Who is in charge of the building?
On the whole the outlay for major works tend not to be wrapped into the service charges, albeit that a few managing agents in Boscombe obliged tenants to contribute towards a sinking fund and this is used to offset against major repairs or maintenance.