Colwyn Bay leasehold conveyancing: Q and A’s
My fiance and I may need to sub-let our Colwyn Bay garden flat for a while due to a career opportunity. We used a Colwyn Bay conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Colwyn Bay do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Colwyn Bay. I now want to extend my lease but my landlord is can not be found. What should I do?
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 magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist should be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Colwyn Bay.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Colwyn Bay. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in Colwyn Bay are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Colwyn Bay in which case you should be looking for a Colwyn Bay conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I own a leasehold house in Colwyn Bay. Conveyancing and Barclays Direct mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Colwyn Bay who acted for me is not around.Any advice?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Colwyn Bay conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Completion in due on the sale of our £200000 flat in Colwyn Bay next Thursday . The management company has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Colwyn Bay?
Colwyn Bay conveyancing on leasehold apartments often necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you if you want to complete the sale of your home.
I purchased a 2 bed flat in Colwyn Bay, 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? Equivalent properties in Colwyn Bay with over 90 years remaining are worth £170,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2098
With just 75 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.