Top Five Questions relating to Hawkshead leasehold conveyancing
Harry (my fiance) and I may need to rent out our Hawkshead ground floor flat for a while due to a new job. We used a Hawkshead conveyancing practice in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Hawkshead 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 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 consent.
Expecting to exchange soon on a ground floor flat in Hawkshead. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Hawkshead should include some of the following:
- You should be sent a copy of the lease
Back In 2006, I bought a leasehold flat in Hawkshead. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Hawkshead who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Hawkshead conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of flats in Hawkshead both have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Hawkshead. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area
Can you provide any top tips for leasehold conveyancing in Hawkshead with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Hawkshead can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
- Many freeholders or Management Companies in Hawkshead levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Hawkshead.
I bought a studio flat in Hawkshead, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Hawkshead with a long lease are worth £205,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2102
With 79 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you 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 other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.