Frequently asked questions relating to Lake District leasehold conveyancing
I want to sublet my leasehold flat in Lake District. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Lake District conveyancing solicitor is not available you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party before subletting. This means you not allowed to sublet in the absence of prior permission. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have just appointed agents to market my ground floor flat in Lake District.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – Do I pay up?
It best that you discharge the service charge 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 managing agents will not acknowledge the buyer unless 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.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Lake District. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Lake District ?
Most houses in Lake District are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Lake District in which case you should be looking for a Lake District conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
We expect to complete our sale of a £325000 flat in Lake District in 5 days. The management company has quoted £300 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lake District?
Lake District conveyancing on leasehold maisonettes typically involves administration charges levied by freeholders :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Lake District
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
When it comes to leasehold conveyancing in Lake District what are the most common lease problems?
Leasehold conveyancing in Lake District is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Coventry Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I am the registered owner of a studio flat in Lake District, conveyancing having been completed 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Lake District with an extended lease are worth £215,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2084
With 60 years left to run we estimate the premium for your lease extension to range between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Other Topics