Experts for Leasehold Conveyancing in Holbeach

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Frequently asked questions relating to Holbeach leasehold conveyancing

My fiance and I may need to rent out our Holbeach ground floor flat for a while due to a new job. We used a Holbeach conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Holbeach do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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.

Planning to sign contracts shortly on a studio apartment in Holbeach. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Holbeach should include some of the following:

  • The total extent of the premises. This will be the apartment itself but may include a roof space or basement if appropriate.
  • Are pets allowed in the flat?
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Holbeach please ask your lawyer in ahead of your conveyancing in Holbeach

    • I’m about to sell my 2 bed flat in Holbeach.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – Do I pay up?

    It best that you pay 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

    Can you provide any top tips for leasehold conveyancing in Holbeach with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Holbeach can be bypassed if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Holbeach state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such works. If you fail to have the approvals in place you should not contact the landlord without contacting your conveyancer in advance.
  • A minority of Holbeach leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • If all goes to plan we aim to complete our sale of a £425000 flat in Holbeach on Wednesday in a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Holbeach?

    Holbeach conveyancing on leasehold flats usually involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

    I invested in buying a 1 bedroom flat in Holbeach, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding flats in Holbeach with an extended lease are worth £234,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2084

    With just 59 years left to run we estimate the price of your lease extension to range between £22,800 and £26,400 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 a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Holbeach