Sample questions relating to Headley leasehold conveyancing
I want to let out my leasehold flat in Headley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Headley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse 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.
Looking forward to sign contracts shortly on a garden flat in Headley. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Headley should include some of the following:
- The total extent of the demise. This will be the flat itself but could also incorporate a loft or cellar if applicable.
I am a negotiator for a busy estate agency in Headley where we have experienced a number of leasehold sales derailed as a result of short leases. I have received conflicting advice from local Headley conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
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.
We expect to complete the sale of our £325000 maisonette in Headley in nine days. The freeholder has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Headley?
Headley conveyancing on leasehold apartments usually involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
What are the common deficiencies that you witness in leases for Headley properties?
There is nothing unique about leasehold conveyancing in Headley. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
I inherited a split level flat in Headley, conveyancing was carried out 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Headley with over 90 years remaining are worth £174,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2089
With just 63 years unexpired the likely cost is going to be between £18,100 and £20,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
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