Sample questions relating to Cirencester leasehold conveyancing
I want to rent out my leasehold apartment in Cirencester. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Cirencester do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.
Expecting to exchange soon on a basement flat in Cirencester. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Cirencester should include some of the following:
- The total extent of the property. This will be the property itself but might include a loft or basement if appropriate.
I work for a busy estate agent office in Cirencester where we have experienced a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Cirencester conveyancing firms. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Can you offer any advice when it comes to appointing a Cirencester conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Cirencester conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Cirencester conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If the firm is not ALEP accredited then why not?
Can you provide any top tips for leasehold conveyancing in Cirencester with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cirencester can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
- In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Cirencester state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you dont have the paperwork in place do not communicate with the landlord without checking with your conveyancer in the first instance.
I inherited a 1 bedroom flat in Cirencester, conveyancing formalities finalised 1996. 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 flats in Cirencester with an extended lease are worth £225,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2081
With 60 years unexpired the likely cost is going to range between £21,900 and £25,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.