Frequently asked questions relating to Histon leasehold conveyancing
My husband and I may need to let out our Histon basement flat for a while due to a new job. We instructed a Histon conveyancing practice in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Histon conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I own a leasehold flat in Histon. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Histon who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Histon conveyancing firm to do this as it can be done on-line for a few pound. 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.
Last month I purchased a leasehold flat in Histon. Do I have any liability for service charges for periods before my ownership?
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).
We expect to complete the disposal of our £450000 maisonette in Histon in nine days. The landlords agents has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Histon?
Histon conveyancing on leasehold maisonettes usually necessitates fees being levied by freeholders :
- Completing pre-contract questions
- Where consent is required before sale in Histon
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
When it comes to leasehold conveyancing in Histon what are the most frequent lease problems?
Leasehold conveyancing in Histon is not unique. Most leases is drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I own a 2 bed flat in Histon, conveyancing having been completed in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Histon with over 90 years remaining are worth £232,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2081
With just 56 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
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