Fixed-fee leasehold conveyancing in Corby:

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Corby, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Corby leasehold conveyancing

My fiance and I may need to sub-let our Corby basement flat for a while due to a career opportunity. We used a Corby conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

A lease dictates relations between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Corby do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

My wife and I purchased a leasehold house in Corby. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Corby who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Corby conveyancing lawyer to do this as it can be done on-line 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.

I work for a busy estate agency in Corby where we see a number of flat sales derailed due to short leases. I have received contradictory information from local Corby conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that 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 wait 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 at the same time as completion of the disposal of the property.

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 purchaser.

Can you provide any advice for leasehold conveyancing in Corby from the perspective of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Corby can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers lawyers.
  • Many landlords or managing agents in Corby charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Corby.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate is often a time consuming process and frustrates many a Corby home move. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450000 apartment in Corby in six days. The freeholder has quoted £360 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Corby?

    Corby conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer submitting enquiries 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 are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is demanded should you wish to sell the property.

    Leasehold Conveyancing in Corby - Sample of Questions you should ask before Purchasing

      This question is helpful as a) areas may cause problems in the block as the common areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have full disclosure It would be a good idea to investigate if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Corby. If you love the flatin Corby but your cat is not allowed to make the move with you then you will be presented with a difficult decision. What is the annual service fee and ground rent?

    Other Topics

    Lease Extensions in Corby