Recently asked questions relating to Fishponds leasehold conveyancing
I am intending to sublet my leasehold apartment in Fishponds. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Fishponds do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Expecting to exchange soon on a leasehold property in Fishponds. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Fishponds should include some of the following:
- Are you allowed to have a pet in the flat?
- Whether the lease restricts you from subletting the flat, or having a home office for business
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
- Whether your lease has a provision for a reserve fund?
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
My wife and I purchased a leasehold house in Fishponds. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Fishponds who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Fishponds conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Fishponds. Do I have any liability for service charges for periods before my ownership?
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. 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 be sure 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).
What are your top tips when it comes to choosing a Fishponds conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Fishponds conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Fishponds conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
- Can they put you in touch with client in Fishponds who can give a testimonial?
I bought a split level flat in Fishponds, conveyancing was carried out 2003. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Fishponds with a long lease are worth £235,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2085
With just 59 years unexpired the likely cost is going to range between £23,800 and £27,400 plus costs.
The suggested premium range 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 comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.