Recently asked questions relating to Chatteris leasehold conveyancing
Harry (my fiance) and I may need to let out our Chatteris basement flat temporarily due to a new job. We instructed a Chatteris conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Chatteris do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
Expecting to complete next month on a garden flat in Chatteris. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Chatteris should include some of the following:
- Setting out your legal entitlements in respect of the communal areas in the building.E.G., does the lease grant a right of way over a path or hallways?
- Will you be prohibited or prevented from having pets in the property?
- Does the lease prevent you from letting out the property, or having a home office for business
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
I am a negotiator for a busy estate agency in Chatteris where we see a number of flat sales derailed as a result of short leases. I have received contradictory information from local Chatteris conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 purchaser.
Do you have any advice for leasehold conveyancing in Chatteris from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Chatteris can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority freeholders or Management Companies in Chatteris levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Chatteris.
- A minority of Chatteris leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
- If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Arranging a new share certificate is often a time consuming process and slows down many a Chatteris home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
- You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
We expect to complete our sale of a £ 225000 apartment in Chatteris next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Chatteris?
Chatteris conveyancing on leasehold flats nine out of ten times involves administration charges invoiced by managing agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Chatteris
- 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 Chatteris, conveyancing formalities finalised in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Chatteris with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £55 per annum. The lease ceases on 21st October 2094
You have 68 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.