Questions and Answers: Cheltenham leasehold conveyancing
I wish to sublet my leasehold apartment in Cheltenham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Cheltenham conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet without prior permission. Such consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
I only have 62 years unexpired on my lease in Cheltenham. I am keen to extend my lease but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. In some cases a specialist would be useful to conduct investigations and to produce a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Cheltenham.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cheltenham. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Cheltenham ?
The majority of houses in Cheltenham are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Cheltenham so you should seriously consider looking for a Cheltenham conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.
I am attracted to a couple of apartments in Cheltenham which have in the region of 50 years remaining on the lease term. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £125000 apartment in Cheltenham on Monday in a week. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cheltenham?
Cheltenham conveyancing on leasehold flats usually results in administration charges raised by landlords agents :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Cheltenham
- 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 Cheltenham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Cheltenham with a long lease are worth £182,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2087
With 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.