Sample questions relating to Consett leasehold conveyancing
My partner and I may need to let out our Consett 1st floor flat for a while due to a career opportunity. We used a Consett conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Consett do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates 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 own a leasehold flat in Consett. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Consett who acted for me is not around.Do I pay?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Consett conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in Consett. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I work for a busy estate agent office in Consett where we have witnessed a few flat sales jeopardised due to short leases. I have received conflicting advice from local Consett conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having 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 prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 purchaser.
Do you have any top tips for leasehold conveyancing in Consett with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Consett can be reduced if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Consett state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such alterations. If you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer before hand.
I own a 2 bed flat in Consett, conveyancing formalities finalised 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Consett with a long lease are worth £261,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2086
You have 61 years unexpired we estimate the price of your lease extension to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
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