Questions and Answers: Daventry leasehold conveyancing
I would like to rent out my leasehold flat in Daventry. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Daventry conveyancing solicitor is no longer around you can check your lease to see if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party in advance of subletting. This means you not allowed to sublet without prior permission. The consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I have recently realised that I have Seventy years unexpired on my lease in Daventry. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist would be helpful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Daventry.
I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Daventry. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Daventry ?
Most houses in Daventry are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Daventry in which case you should be looking for a Daventry conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.
Last month I purchased a leasehold house in Daventry. Am I liable to pay service charges for periods before my ownership?
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. A critical element 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).
If all goes to plan we aim to complete our sale of a £125000 maisonette in Daventry in just under a week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Daventry?
Daventry conveyancing on leasehold apartments more often than not necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.
I bought a 1st floor flat in Daventry, conveyancing was carried out 4 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Daventry with a long lease are worth £228,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2103
With just 78 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Other Topics