Frequently asked questions relating to Holywell leasehold conveyancing
I am intending to sublet my leasehold apartment in Holywell. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Holywell conveyancing solicitor is no longer around you can check 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. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or some other party prior to subletting. This means you not allowed to sublet without prior consent. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I own a leasehold house in Holywell. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Holywell who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Holywell conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Holywell conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Holywell conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Holywell conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- What volume of lease extensions has the firm conducted in Holywell in the last year?
Can you provide any advice for leasehold conveyancing in Holywell with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Holywell can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
- Many freeholders or Management Companies in Holywell charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Holywell.
In relation to leasehold conveyancing in Holywell what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Holywell. All leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- A duty to insure the building
- 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 will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Holywell Leasehold Conveyancing - Examples of Queries before buying
Many Holywell leasehold apartments will have a service bill for maintenance of the block set by the landlord. Should you buy the property you will have to pay this liability, usually in instalments during the year. This may be anything from several hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant figure, say around £25-£75 but you should to enquire as occasionally it could be prohibitively expensive.
Is anyone aware of any major works on the horizon that could add a premium to the service fees?
You will want to discover as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily issues such as the cleanliness of the communal areas. Enquire of other tenants what they think of their service. In conclusion, find out the dates that the maintenance fees are due to the appropriate party and specifically what you get for your money.