Bury leasehold conveyancing: Q and A’s
I would like to let out my leasehold flat in Bury. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Bury do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review 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 consent.
I have recently realised that I have Fifty years remaining on my flat in Bury. I am keen to extend my lease but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. For most situations a specialist should be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Bury.
My wife and I purchased a leasehold house in Bury. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bury who acted for me is not around.Any advice?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Bury conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two apartments in Bury both have about 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Bury. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
We expect to complete our sale of a £150000 flat in Bury next week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bury?
Bury conveyancing on leasehold apartments normally involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They are entitled charge 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 transactions it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.
Bury Conveyancing for Leasehold Flats - Sample of Queries before buying
For many Bury leaseholds the cost for major works are not built into the service charges, albeit that there some managing agents in Bury ask tenants to pay into a sinking fund and this is used to offset against major works.
How many of the leaseholders are in arrears for their service charge payments?
The majority of Bury leasehold properties will be liable to pay a service charge for maintenance of the building set by the landlord. Where you buy the flat you will have to pay this contribution, usually periodically accross the year. This can be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a ground rent to be met yearly, this is usually not a exorbitant amount, say approximately £25-£75 but you need to check as on occasion it can be many hundreds of pounds.