Recently asked questions relating to Kelsall leasehold conveyancing
Jane (my partner) and I may need to sub-let our Kelsall garden flat temporarily due to a career opportunity. We instructed a Kelsall conveyancing firm in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Kelsall do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 permission.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Kelsall. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Kelsall ?
Most houses in Kelsall are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Kelsall so you should seriously consider shopping around for a Kelsall conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I work for a long established estate agency in Kelsall where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Kelsall conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to choosing a Kelsall conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Kelsall conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Kelsall conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Kelsall from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kelsall can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- Many landlords or managing agents in Kelsall levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have 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 reason for frustration in leasehold conveyancing in Kelsall.
I purchased a 1 bedroom flat in Kelsall, conveyancing having been completed in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Kelsall with over 90 years remaining are worth £246,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2082
With only 57 years unexpired we estimate the premium for your lease extension to span between £25,700 and £29,600 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures 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. Neither should you move forward placing reliance on this information without first getting professional advice.
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