Top Five Questions relating to Halesworth leasehold conveyancing
I would like to let out my leasehold flat in Halesworth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Halesworth do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Halesworth. I now wish to extend my lease but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. In some cases a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Halesworth.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Halesworth. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in Halesworth 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 purchasing in Halesworth in which case you should be shopping around for a Halesworth conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I work for a long established estate agent office in Halesworth where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Halesworth conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
All being well we will complete our sale of a £125000 flat in Halesworth next week. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Halesworth?
Halesworth conveyancing on leasehold flats usually requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. 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 management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a ground floor flat in Halesworth, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Halesworth with over 90 years remaining are worth £205,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2075
With 50 years left to run we estimate the premium for your lease extension to range between £40,900 and £47,200 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered 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.
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