Sample questions relating to Fishponds leasehold conveyancing
I want to rent out my leasehold apartment in Fishponds. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Fishponds do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Fishponds. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Fishponds are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Fishponds in which case you should be shopping around for a Fishponds conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
I own a leasehold house in Fishponds. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Fishponds who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Fishponds conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of flats in Fishponds both have approximately 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Fishponds. The lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 maisonette in Fishponds in just under a week. The management company has quoted £384 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 Fishponds?
Fishponds conveyancing on leasehold maisonettes more often than not necessitates the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to sell the property.
I bought a split level flat in Fishponds, conveyancing was carried out in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Fishponds with a long lease are worth £180,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2102
With only 80 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.