Recently asked questions relating to Fairwater leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Fairwater. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Fairwater - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Frank (my husband) and I may need to let out our Fairwater garden flat temporarily due to a new job. We instructed a Fairwater conveyancing practice in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Fairwater do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I own a leasehold house in Fairwater. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Fairwater who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Fairwater conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold house in Fairwater. Do I have any liability for 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. However, 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).
Can you provide any advice for leasehold conveyancing in Fairwater with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Fairwater can be reduced where you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Fairwater state that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Where you dont have the approvals to hand you should not contact the landlord without contacting your lawyer in the first instance.
Fairwater Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
The prefered form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent is directed by the tenants.
Most Fairwater leasehold flats will incur a service charge for maintenance of the building invoiced by the landlord. Where you acquire the property you will have to meet this amount, usually quarterly during the year. This can be anything from several hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent to be met annual, this is usually not a significant amount, say approximately £50-£100 but you need to check it because on occasion it could be many hundreds of pounds.
What is the name of the managing agents?