Recently asked questions relating to Fairwater leasehold conveyancing
My fiance and I may need to sub-let our Fairwater garden flat temporarily due to a new job. We used a Fairwater conveyancing practice in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
A lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Fairwater do not contain subletting altogether – 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 am hoping to complete next month on a ground floor flat in Fairwater. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Fairwater should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I have just started marketing my basement apartment in Fairwater.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 management companies will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.
What advice can you give us when it comes to choosing a Fairwater conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Fairwater conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Fairwater conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- What volume of lease extensions have they completed in Fairwater in the last year?
If all goes to plan we aim to complete the sale of our £325000 garden flat in Fairwater in six days. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Fairwater?
Fairwater conveyancing on leasehold maisonettes normally results in fees being invoiced by management companies :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Fairwater
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a 2 bed flat in Fairwater, conveyancing having been completed in 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Fairwater with a long lease are worth £236,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2087
With only 66 years left to run we estimate the premium for your lease extension to be between £12,400 and £14,200 plus legals.
The figure that we have given is 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. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.