Examples of recent questions relating to leasehold conveyancing in Castleton
Helen (my wife) and I may need to rent out our Castleton ground floor flat for a while due to a career opportunity. We used a Castleton conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A lease dictates relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Castleton do not contain subletting altogether – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Castleton. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Castleton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Castleton so you should seriously consider looking for a Castleton conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Castleton. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Castleton who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Castleton conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agency in Castleton where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Castleton conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
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.
If all goes to plan we aim to complete the sale of our £450000 flat in Castleton next Monday . The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Castleton?
Castleton conveyancing on leasehold apartments normally involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They are entitled charge a reasonable charge for answering questions 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 management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Castleton - A selection of Queries Prior to buying
You should want to discover as much as you can about the managing agents as they will either make living at the property much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the common parts. You should not be afraid to ask other tenants whether they are happy with them. In conclusion, investigate as to the dates that the maintenance fees are due to the managing agents and precisely what you get for your money.
The majority of Castleton leasehold properties will incur a service charge for maintenance of the building levied on behalf of the management company. If you purchase the flat you will have to meet this charge, normally quarterly throughout the year. This may vary from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met annual, ordinarily this is not a large sum, say around £25-£75 but you need to check as on occasion it can be prohibitively expensive.
This question is useful as a) areas may cause problems for the building as the communal areas may begin to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will need to know about it