Common questions relating to Headingley leasehold conveyancing
Helen (my wife) and I may need to sub-let our Headingley basement flat temporarily due to a new job. We instructed a Headingley conveyancing firm in 2001 but they have since shut 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?
A lease dictates the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Headingley do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Planning to sign contracts shortly on a ground floor flat in Headingley. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Headingley should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I have just started marketing my basement apartment in Headingley.Conveyancing has not commenced but I have just had a half-yearly service charge demand – Do I pay up?
It best that you clear 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am employed by a busy estate agency in Headingley where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Headingley conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £250000 flat in Headingley on Thursday in a week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Headingley?
Headingley conveyancing on leasehold apartments often requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
I own a ground floor flat in Headingley, conveyancing formalities finalised in 2010. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Headingley with a long lease are worth £251,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease runs out on 21st October 2100
With just 75 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 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 advice on the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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