Sample questions relating to Charmouth leasehold conveyancing
My wife and I may need to sub-let our Charmouth ground floor flat temporarily due to a new job. We used a Charmouth conveyancing practice in 2002 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?
Notwithstanding that your last Charmouth conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you must seek consent via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without prior consent. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
Last month I purchased a leasehold flat in Charmouth. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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. Strange as it may seem, 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).
I am a negotiator for a long established estate agency in Charmouth where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Charmouth conveyancing solicitors. Could you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have 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 before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Do you have any top tips for leasehold conveyancing in Charmouth from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Charmouth can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
- Many landlords or Management Companies in Charmouth charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Charmouth.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 garden flat in Charmouth next week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Charmouth?
Charmouth conveyancing on leasehold apartments nine out of ten times necessitates fees being invoiced by landlords agents :
- Answering pre-exchange questions
- Where consent is required before sale in Charmouth
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 2 bed flat in Charmouth, conveyancing formalities finalised in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Charmouth with an extended lease are worth £194,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2078
With just 57 years left to run we estimate the premium for your lease extension to be between £24,700 and £28,600 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.