Leasehold Conveyancing in Chellaston - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to Chellaston leasehold conveyancing

I would like to sublet my leasehold flat in Chellaston. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your last Chellaston conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

My wife and I purchased a leasehold flat in Chellaston. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Chellaston who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Chellaston conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold property in Chellaston. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element 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).

Do you have any top tips for leasehold conveyancing in Chellaston from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Chellaston can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
  • Many freeholders or managing agents in Chellaston charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Chellaston.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Chellaston leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such works. Where you fail to have the consents to hand do not communicate with the landlord without contacting your conveyancer before hand.
  • Some Chellaston leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 solicitors.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • When it comes to leasehold conveyancing in Chellaston what are the most frequent lease problems?

    Leasehold conveyancing in Chellaston is not unique. Most leases are unique and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.

    I bought a 1 bedroom flat in Chellaston, conveyancing was carried out 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Chellaston with a long lease are worth £173,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2082

    With only 58 years remaining on your lease we estimate the price of your lease extension to be between £25,700 and £29,600 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Chellaston