Bradley Stoke leasehold conveyancing: Q and A’s
My husband and I may need to sub-let our Bradley Stoke ground floor flat for a while due to taking a sabbatical. We used a Bradley Stoke conveyancing firm in 2003 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Bradley Stoke do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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.
Due to complete next month on a basement flat in Bradley Stoke. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Bradley Stoke should include some of the following:
- Defining your legal entitlements in relation to common areas in the building.For instance, does the lease grant a right of way over an accessway or hallways?
What are your top tips when it comes to choosing a Bradley Stoke conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Bradley Stoke conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Bradley Stoke conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Bradley Stoke with the aim of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bradley Stoke can be reduced if you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
- Many freeholders or managing agents in Bradley Stoke levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Bradley Stoke.
All being well we will complete the sale of our £125000 flat in Bradley Stoke on Monday in a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Bradley Stoke?
Bradley Stoke conveyancing on leasehold maisonettes usually involves the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I acquired a split level flat in Bradley Stoke, conveyancing formalities finalised in 2008. How much will my lease extension cost? Similar flats in Bradley Stoke with a long lease are worth £220,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2094
With just 72 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 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 a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.