Recently asked questions relating to Hale Barns leasehold conveyancing
My wife and I may need to let out our Hale Barns garden flat for a while due to a career opportunity. We used a Hale Barns conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
The lease governs relations between the freeholder and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Hale Barns do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I have just started marketing my garden flat in Hale Barns.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the service charge 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 managing agents 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.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Hale Barns. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Hale Barns are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Hale Barns in which case you should be looking for a Hale Barns conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.
We expect to complete our sale of a £275000 garden flat in Hale Barns next Wednesday . The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Hale Barns?
Hale Barns conveyancing on leasehold maisonettes more often than not involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
In relation to leasehold conveyancing in Hale Barns what are the most frequent lease defects?
Leasehold conveyancing in Hale Barns is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
I inherited a leasehold flat in Hale Barns, conveyancing formalities finalised in 2000. Can you work out an approximate cost of a lease extension? Equivalent properties in Hale Barns with a long lease are worth £246,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2102
With just 79 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously 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.
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