Top Five Questions relating to Crowthorne leasehold conveyancing
I am intending to rent out my leasehold flat in Crowthorne. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Crowthorne do not contain subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Expecting to sign contracts shortly on a ground floor flat in Crowthorne. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Crowthorne should include some of the following:
- Setting out your rights in respect of the communal areas in the block.For instance, does the lease provide for a right of way over a path or hallways?
Back In 2000, I bought a leasehold house in Crowthorne. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Crowthorne who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Crowthorne conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Crowthorne. Am I liable to pay service charges for periods before 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
All being well we will complete the disposal of our £175000 garden flat in Crowthorne in nine days. The managing agents has quoted £348 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 leasehold conveyance in Crowthorne?
Crowthorne conveyancing on leasehold maisonettes usually necessitates administration charges raised by freeholders :
- Completing pre-contract enquiries
- Where consent is required before sale in Crowthorne
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a leasehold flat in Crowthorne, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Crowthorne with a long lease are worth £208,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2098
With 73 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
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