Bucknall leasehold conveyancing: Q and A’s
Frank (my husband) and I may need to sub-let our Bucknall ground floor flat for a while due to a new job. We used a Bucknall conveyancing firm in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Bucknall conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I have just started marketing my ground floor flat in Bucknall.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – Do I pay up?
It best that you 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 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.
Back In 2000, I bought a leasehold house in Bucknall. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Bucknall who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Bucknall conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Bucknall which have in the region of 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Bucknall. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field
All being well we will complete our sale of a £175000 garden flat in Bucknall next week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Bucknall?
Bucknall conveyancing on leasehold flats normally necessitates the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Bucknall Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
-
Are there any major works in the planning that will likely increase the service fees?
On the whole the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Bucknall obliged tenants to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.
Are any of leasehold owners in arrears of their service charge liability?
Other Topics