Sample questions relating to Lechlade leasehold conveyancing
I am on look out for some leasehold conveyancing in Lechlade. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Lechlade - then the leasehold title will always include the basic details 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.
Helen (my wife) and I may need to rent out our Lechlade basement flat for a while due to taking a sabbatical. We used a Lechlade 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?
Some leases for properties in Lechlade do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot 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 consent.
I have just appointed agents to market my garden apartment in Lechlade.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?
It best that you clear the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Lechlade. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Lechlade ?
The majority of houses in Lechlade are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Lechlade so you should seriously consider shopping around for a Lechlade conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should report to you on the legal implications.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £325000 garden flat in Lechlade in 10 days. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lechlade?
Lechlade conveyancing on leasehold flats more often than not requires the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.
I acquired a 1st floor flat in Lechlade, conveyancing formalities finalised 1999. Can you work out an approximate cost of a lease extension? Equivalent flats in Lechlade with a long lease are worth £228,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2085
With 65 years unexpired the likely cost is going to span between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.