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Top Five Questions relating to Cromer leasehold conveyancing

Frank (my husband) and I may need to let out our Cromer garden flat temporarily due to taking a sabbatical. We instructed a Cromer conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Even though your previous Cromer conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I have just started marketing my basement apartment in Cromer.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Last month I purchased a leasehold house in Cromer. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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 ensure 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).

What are your top tips when it comes to appointing a Cromer conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Cromer conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Cromer conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • How many lease extensions has the firm conducted in Cromer in the last twenty four months?
  • Can they put you in touch with client in Cromer who can give a testimonial?

    • Can you provide any advice for leasehold conveyancing in Cromer from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cromer can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Cromer state that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. If you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Cromer leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder 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 a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a leasehold flat in Cromer, conveyancing having been completed in 2002. Can you work out an approximate cost of a lease extension? Comparable flats in Cromer with a long lease are worth £243,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2104

    With only 78 years unexpired the likely cost is going to range between £11,400 and £13,200 as well as legals.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Cromer