Fixed-fee leasehold conveyancing in Chellaston:

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Questions and Answers: Chellaston leasehold conveyancing

I want to rent out 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 previous Chellaston conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Looking forward to sign contracts shortly on a studio apartment in Chellaston. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Chellaston should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Does the lease prevent you from subletting the flat, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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.
  • Responsibility for repairing the window frames
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Chellaston please ask your conveyancer in advance of your conveyancing in Chellaston

    • I’m about to sell my ground floor flat in Chellaston.Conveyancing has not commenced but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is 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 unless 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.

    Do you have any advice for leasehold conveyancing in Chellaston from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Chellaston can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Chellaston leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such works. Should you fail to have the approvals to hand you should not communicate with the landlord without contacting your solicitor first.
  • A minority of Chellaston leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • What makes a Chellaston lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Chellaston. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • 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

    You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Barclays Direct 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 problematic they may refuse to provide security, obliging the buyer to withdraw.

    I inherited a 2 bed flat in Chellaston, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Chellaston with over 90 years remaining are worth £265,000. The ground rent is £50 yearly. The lease expires on 21st October 2087

    With just 62 years left to run the likely cost is going to range between £21,900 and £25,200 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do 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. You should not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Chellaston