Recently asked questions relating to Cross Hands leasehold conveyancing
I want to rent out my leasehold flat in Cross Hands. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Cross Hands conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining consent. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
Estate agents have just been given the go-ahead to market my ground floor flat in Cross Hands.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the invoice 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.
I am looking at a two apartments in Cross Hands which have about 50 years left on the leases. Do I need to be concerned?
There are plenty of short leases in Cross Hands. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area
Do you have any advice for leasehold conveyancing in Cross Hands with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cross Hands can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
- Many freeholders or managing agents in Cross Hands charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Cross Hands.
If all goes to plan we aim to complete the disposal of our £325000 apartment in Cross Hands next Tuesday . The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Cross Hands?
Cross Hands conveyancing on leasehold flats typically necessitates administration charges invoiced by landlords agents :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Cross Hands
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a ground floor flat in Cross Hands, conveyancing having been completed 1998. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Cross Hands with a long lease are worth £197,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2077
With just 55 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
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