Sample questions relating to Hartfield leasehold conveyancing
I would like to sublet my leasehold apartment in Hartfield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Hartfield do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Planning to complete next month on a leasehold property in Hartfield. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hartfield should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I've recently bought a leasehold flat in Hartfield. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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 ensure 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).
I am employed by a long established estate agent office in Hartfield where we have experienced a few flat sales derailed due to short leases. I have been given contradictory information from local Hartfield conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 purchaser.
Do you have any top tips for leasehold conveyancing in Hartfield from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hartfield can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hartfield state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you dont have the consents to hand you should not contact the landlord without checking with your lawyer before hand.
I bought a ground floor flat in Hartfield, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Hartfield with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2099
With only 78 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.