I am on look out for some leasehold conveyancing in Castleton. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Castleton - 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.

My fiance and I may need to rent out our Castleton 1st floor flat temporarily due to a new job. We instructed a Castleton conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Castleton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse 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 permission.

I am looking at a couple of maisonettes in Castleton both have approximately fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Castleton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Castleton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What advice can you give us when it comes to choosing a Castleton conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Castleton conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Castleton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If the firm is not ALEP accredited then why not?

All being well we will complete our sale of a £350000 apartment in Castleton on Thursday in a week. The managing agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Castleton?

Castleton conveyancing on leasehold flats often necessitates the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded if you want to complete the sale of your home.

Leasehold Conveyancing in Castleton - Sample of Queries Prior to buying

The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees benefit from being in charge if their destiny and even though a managing agent is usually employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Generally speaking the outlay for major works are not built into the maintenance charges, albeit that some managing agents in Castleton require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. Be sure to find out if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Castleton. If you love the propertyin Castleton yet your dog can’t live with you then you have a very difficult choice.

Other Topics

Lease Extensions in Castleton