Examples of recent questions relating to leasehold conveyancing in Harrold
I am in need of some leasehold conveyancing in Harrold. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Harrold - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Helen (my wife) and I may need to rent out our Harrold garden flat for a while due to a new job. We instructed a Harrold conveyancing practice in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Harrold 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 see references. Experience suggests 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 permission.
I have just appointed agents to market my garden flat in Harrold.Conveyancing has not commenced but I have just received a yearly service charge invoice – Do I pay up?
It best that you discharge the invoice 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 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. This will smooth the conveyancing process.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Harrold. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Harrold are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Harrold in which case you should be shopping around for a Harrold conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.
If all goes to plan we aim to complete our sale of a £400000 apartment in Harrold in nine days. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Harrold?
Harrold conveyancing on leasehold apartments usually results in fees being raised by managing agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Harrold
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a 1 bedroom flat in Harrold, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Harrold with an extended lease are worth £244,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2085
You have 62 years left to run we estimate the price of your lease extension to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
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