Holywell leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Holywell. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Holywell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My wife and I may need to rent out our Holywell ground floor flat for a while due to a new job. We instructed a Holywell conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Holywell do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Planning to exchange soon on a leasehold property in Holywell. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Holywell should include some of the following:
- Setting out your legal entitlements in respect of common areas in the block.For example, does the lease include a right of way over a path or staircase?
I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Holywell. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Holywell are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Holywell so you should seriously consider shopping around for a Holywell conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
All being well we will complete the disposal of our £425000 garden flat in Holywell on Tuesday in a week. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Holywell?
Holywell conveyancing on leasehold maisonettes normally involves administration charges invoiced by freeholders :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Holywell
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a 2 bed flat in Holywell, conveyancing having been completed in 1996. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Holywell with over 90 years remaining are worth £239,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2074
With just 54 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.