Top Five Questions relating to Histon leasehold conveyancing
I wish to sublet my leasehold flat in Histon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Histon conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior permission. The consent should not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only 68 years left on my lease in Histon. I now wish to get lease extension but my freeholder is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases an enquiry agent should be helpful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Histon.
Expecting to sign contracts shortly on a ground floor flat in Histon. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Histon should include some of the following:
- You should receive a copy of the lease
Last month I purchased a leasehold property in Histon. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).
Can you provide any top tips for leasehold conveyancing in Histon with the intention of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Histon can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Histon state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. If you dont have the approvals in place you should not communicate with the landlord without checking with your conveyancer first.
I bought a basement flat in Histon, conveyancing having been completed 2001. How much will my lease extension cost? Corresponding flats in Histon with a long lease are worth £222,000. The ground rent is £60 per annum. The lease expires on 21st October 2093
With only 72 years remaining on your lease we estimate the price of your lease extension to span between £12,400 and £14,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.