Recently asked questions relating to Ladywood leasehold conveyancing
My husband and I may need to rent out our Ladywood basement flat for a while due to a new job. We used a Ladywood conveyancing firm in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Ladywood do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Due to sign contracts shortly on a leasehold property in Ladywood. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Ladywood should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- Does the lease require carpeting throughout thus preventing wood flooring?
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- 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
My wife and I purchased a leasehold flat in Ladywood. Conveyancing and Santander mortgage are in place. A letter has just been received 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 1991. The conveyancing solicitor in Ladywood who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Ladywood 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 rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to appointing a Ladywood conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Ladywood conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Ladywood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions have they conducted in Ladywood in the last twenty four months?
- What are the charges for lease extension conveyancing?
Completion in due on the disposal of our £ 200000 maisonette in Ladywood in nine days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Ladywood?
For most leasehold sales in Ladywood conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Ladywood
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a ground floor flat in Ladywood, conveyancing having been completed 2001. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Ladywood with a long lease are worth £194,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2091
With 65 years remaining on your lease we estimate the price of your lease extension to be between £14,300 and £16,400 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be 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 placing reliance on this information without first seeking the advice of a professional.