Questions and Answers: Filton leasehold conveyancing
I wish to rent out my leasehold flat in Filton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Filton conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of first obtaining permission. Such consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I’m about to sell my basement flat in Filton.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold house in Filton. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Filton who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Filton conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate 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 Filton. 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 owner 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 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).
I work for a reputable estate agent office in Filton where we have witnessed a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Filton conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 1st floor flat in Filton, conveyancing formalities finalised 5 years ago. 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 properties in Filton with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2087
With just 64 years left to run we estimate the price of your lease extension to span between £13,300 and £15,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.