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Gilberdyke leasehold conveyancing: Q and A’s

Harry (my fiance) and I may need to rent out our Gilberdyke 1st floor flat for a while due to a new job. We instructed a Gilberdyke conveyancing practice in 2004 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

A lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Gilberdyke do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I’m about to sell my ground floor apartment in Gilberdyke.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Gilberdyke. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Gilberdyke who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Gilberdyke conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any top tips for leasehold conveyancing in Gilberdyke from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Gilberdyke can be avoided where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Gilberdyke state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you fail to have the consents in place do not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Gilberdyke leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and frustrates many a Gilberdyke conveyancing transaction. If a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • Are there frequently found defects that you witness in leases for Gilberdyke properties?

    Leasehold conveyancing in Gilberdyke is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    I own a leasehold flat in Gilberdyke, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Gilberdyke with over 90 years remaining are worth £245,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2086

    You have 61 years left to run we estimate the price of your lease extension to range between £20,000 and £23,000 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Gilberdyke