Sample questions relating to Christchurch leasehold conveyancing
I am on look out for some leasehold conveyancing in Christchurch. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is registered - and almost all are in Christchurch - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Frank (my husband) and I may need to rent out our Christchurch garden flat for a while due to taking a sabbatical. We instructed a Christchurch conveyancing firm in 2001 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?
A small minority of properties in Christchurch do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am employed by a long established estate agency in Christchurch where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Christchurch conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension formalities 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 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 before, or simultaneously with completion of the sale.
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 buyer.
What are your top tips when it comes to choosing a Christchurch conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Christchurch conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Christchurch conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
All being well we will complete our sale of a £200000 apartment in Christchurch next week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Christchurch?
Christchurch conveyancing on leasehold apartments usually involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.
I own a split level flat in Christchurch, conveyancing having been completed in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Christchurch with over 90 years remaining are worth £184,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2099
With just 77 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 plus professional fees.
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 due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.