Examples of recent questions relating to leasehold conveyancing in Glastonbury
I am intending to rent out my leasehold apartment in Glastonbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Some leases for properties in Glastonbury 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 review 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.
Expecting to exchange soon on a basement flat in Glastonbury. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Glastonbury should include some of the following:
- You should be sent a copy of the lease
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Glastonbury. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Glastonbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Glastonbury so you should seriously consider shopping around for a Glastonbury conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance 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 am employed by a reputable estate agent office in Glastonbury where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Glastonbury conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
We expect to complete our sale of a £375000 garden flat in Glastonbury next Friday . The freeholder has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Glastonbury?
Glastonbury conveyancing on leasehold flats ordinarily involves administration charges levied by management companies :
- Completing pre-contract enquiries
- Where consent is required before sale in Glastonbury
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a studio flat in Glastonbury, conveyancing having been completed in 1995. Can you work out an approximate cost of a lease extension? Equivalent flats in Glastonbury with an extended lease are worth £185,000. The ground rent is £55 per annum. The lease runs out on 21st October 2098
With 73 years left to run the likely cost is going to be between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures 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. Please do not take any other action based on this information without first seeking the advice of a professional.
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