Chalfont St Peter leasehold conveyancing: Q and A’s
Helen (my wife) and I may need to rent out our Chalfont St Peter 1st floor flat for a while due to taking a sabbatical. We instructed a Chalfont St Peter conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Chalfont St Peter conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without prior consent. Such consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I have just appointed agents to market my basement apartment in Chalfont St Peter.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
It best that you discharge the invoice 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 managing agents will not acknowledge the buyer until 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.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Chalfont St Peter. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Chalfont St Peter ?
The majority of houses in Chalfont St Peter are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Chalfont St Peter in which case you should be shopping around for a Chalfont St Peter conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.
I've recently bought a leasehold house in Chalfont St Peter. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to appointing a Chalfont St Peter conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Chalfont St Peter conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Chalfont St Peter conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
- What volume of lease extensions has the firm conducted in Chalfont St Peter in the last 12 months?
I am the leaseholder of a two-bedroom flat in Chalfont St Peter. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension case for a Chalfont St Peter flat is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The the number of years remaining on the existing lease(s) was 71 years.
I own a basement flat in Chalfont St Peter, conveyancing having been completed 2004. How much will my lease extension cost? Corresponding properties in Chalfont St Peter with a long lease are worth £225,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2097
You have 71 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.