Questions and Answers: Dyserth leasehold conveyancing
I wish to rent out my leasehold apartment in Dyserth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Dyserth do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I’m about to sell my basement flat in Dyserth.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – Do I pay up?
It best that you clear 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 managing agents 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. This will smooth the conveyancing process.
Last month I purchased a leasehold flat in Dyserth. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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 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).
Can you offer any advice when it comes to choosing a Dyserth conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Dyserth conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Dyserth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400000 maisonette in Dyserth in just under a week. The management company has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Dyserth?
Dyserth conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Leasehold Conveyancing in Dyserth - Sample of Queries before buying
If a Dyserth lease has no more than 80 years it will have adverse implications on the marketability of the flat. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and you need to have some idea of what this would cost. For most Dyserthlease extensions you would need to own the property for 24 months before you are legally able to extend the lease.
It is important to be aware whether redecorating or some other major work is due shortly that will be shared amongst the leaseholders and will dramatically impact the level of the maintenance costs or result in a one off invoice.
On the whole the outlay for major works are not wrapped into the maintenance charges, although a few managing agents in Dyserth require tenants to pay into a reserve fund created for the specific intention of building a fund for major works.