Recently asked questions relating to Flitwick leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Flitwick. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Flitwick - then the leasehold title will always include the basic details 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.
I would like to sublet my leasehold apartment in Flitwick. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Flitwick do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Flitwick. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Flitwick ?
Most houses in Flitwick are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Flitwick so you should seriously consider shopping around for a Flitwick conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
We expect to complete our sale of a £275000 garden flat in Flitwick in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Flitwick?
Flitwick conveyancing on leasehold maisonettes often involves the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are at liberty invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to sell the property.
Are there frequently found problems that you come across in leases for Flitwick properties?
There is nothing unique about leasehold conveyancing in Flitwick. All leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
I own a studio flat in Flitwick, conveyancing having been completed 2002. How much will my lease extension cost? Comparable properties in Flitwick with over 90 years remaining are worth £209,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2082
With just 61 years left to run the likely cost is going to be between £20,900 and £24,200 plus legals.
The figure that we have given is a general guide to costs for renewing 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 want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.