Questions and Answers: Frizington leasehold conveyancing
My wife and I may need to sub-let our Frizington 1st floor flat temporarily due to a new job. We instructed a Frizington conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Frizington do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Frizington. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Frizington ?
The majority of houses in Frizington are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Frizington so you should seriously consider shopping around for a Frizington conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
Back In 2003, I bought a leasehold house in Frizington. Conveyancing and Santander mortgage organised. 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 1994. The conveyancing solicitor in Frizington who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Frizington conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Do you have any top tips for leasehold conveyancing in Frizington from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Frizington can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers representatives.
- Many landlords or Management Companies in Frizington levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Frizington.
Completion in due on our sale of a £250000 flat in Frizington next Tuesday . The management company has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Frizington?
Frizington conveyancing on leasehold flats normally involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I acquired a leasehold flat in Frizington, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Frizington with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2100
You have 77 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.