Recently asked questions relating to Hampden Pk leasehold conveyancing
My husband and I may need to rent out our Hampden Pk ground floor flat temporarily due to taking a sabbatical. We instructed a Hampden Pk conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Hampden Pk do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold 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.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Hampden Pk.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – Do I pay up?
The sensible thing to do is clear 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 management companies will not acknowledge the buyer until 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.
Last month I purchased a leasehold house in Hampden Pk. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to finding a Hampden Pk conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Hampden Pk conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Hampden Pk conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How many lease extensions has the firm conducted in Hampden Pk in the last year?
Can you provide any top tips for leasehold conveyancing in Hampden Pk with the purpose of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Hampden Pk can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
- The majority landlords or Management Companies in Hampden Pk charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. 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 Hampden Pk.
I purchased a ground floor flat in Hampden Pk, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Hampden Pk with a long lease are worth £237,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2073
With 51 years unexpired we estimate the premium for your lease extension to be between £37,100 and £42,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.