Common questions relating to Hampden Pk leasehold conveyancing
Helen (my wife) and I may need to sub-let our Hampden Pk ground floor flat for a while due to a new job. We used a Hampden Pk conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Hampden Pk conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain permission from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Expecting to complete next month on a garden flat in Hampden Pk. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hampden Pk should include some of the following:
- The total extent of the property. This will be the property itself but might include a loft or cellar if appropriate.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hampden Pk. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Hampden Pk ?
The majority of houses in Hampden Pk 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 clear that you are buying in Hampden Pk in which case you should be looking for a Hampden Pk conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.
I am attracted to a couple of apartments in Hampden Pk both have about forty five years unexpired on the leases. should I be concerned?
There are plenty of short leases in Hampden Pk. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
If all goes to plan we aim to complete the disposal of our £425000 maisonette in Hampden Pk in seven days. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Hampden Pk?
Hampden Pk conveyancing on leasehold apartments typically results in administration charges invoiced by managing agents :
- Addressing pre-contract enquiries
- Where consent is required before sale in Hampden Pk
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a split level flat in Hampden Pk, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Hampden Pk with an extended lease are worth £234,000. The ground rent is £60 per annum. The lease ceases on 21st October 2089
With only 68 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.