Dunstable leasehold conveyancing Example Support Desk Enquiries
I am intending to sublet my leasehold flat in Dunstable. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Dunstable do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I only have Sixty One years left on my lease in Dunstable. I need to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole an enquiry agent may be helpful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Dunstable.
I am a negotiator for a long established estate agent office in Dunstable where we have witnessed a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Dunstable conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
All being well we will complete the sale of our £375000 flat in Dunstable on Thursday in a week. The managing agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Dunstable?
Dunstable conveyancing on leasehold maisonettes often requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
When it comes to leasehold conveyancing in Dunstable what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Dunstable. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Dunstable Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
The best form of lease arrangement is a share of the freehold. In this situation the leaseholders have control and even though a managing agent is frequently employed where it is larger than a house conversion, the managing agent is directed by the tenants.
How much is the ground rent and service charge?
On the whole the outlay for major works tend not to be wrapped into the service charges, albeit that a few managing agents in Dunstable obliged leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for larger repairs or maintenance.