Sample questions relating to Exmouth leasehold conveyancing
I wish to sublet my leasehold apartment in Exmouth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Exmouth conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or other appropriate person prior to subletting. This means that you cannot sublet in the absence of prior consent. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Looking forward to sign contracts shortly on a ground floor flat in Exmouth. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Exmouth should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am looking at a two maisonettes in Exmouth both have in the region of fifty years unexpired on the lease term. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area
Do you have any top tips for leasehold conveyancing in Exmouth with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Exmouth can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Exmouth state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the consents in place do not communicate with the landlord without contacting your conveyancer first.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 maisonette in Exmouth on Friday in a week. The managing agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Exmouth?
Exmouth conveyancing on leasehold apartments normally involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to assist. They may charge a reasonable charge 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 cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to sell the property.
I inherited a garden flat in Exmouth, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Exmouth with over 90 years remaining are worth £212,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2102
With just 80 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
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