Easthampstead leasehold conveyancing: Q and A’s
My fiance and I may need to rent out our Easthampstead garden flat temporarily due to a new job. We used a Easthampstead conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Easthampstead conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I own a leasehold flat in Easthampstead. Conveyancing and Barclays mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Easthampstead who acted for me is not around.What should I do?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Easthampstead conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two apartments in Easthampstead both have approximately forty five years remaining on the lease term. Will this present a problem?
A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold property in Easthampstead. Do I have any liability for 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. It is an essential part 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).
Completion in due on our sale of a £ 325000 garden flat in Easthampstead next Wednesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Easthampstead?
Easthampstead conveyancing on leasehold flats often involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They may charge a reasonable charge for answering questions 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 situations it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
Easthampstead Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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The best form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and even though a managing agent is usually retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Is the freehold reversion owned jointly by the leaseholders?