Top Five Questions relating to Lechlade leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Lechlade. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all 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.
I wish to let out my leasehold apartment in Lechlade. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Lechlade do contain a provision to say that subletting is only allowed with permission. 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.
There are only Fifty years remaining on my lease in Lechlade. I now want to get lease extension but my landlord is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the lessor. In some cases an enquiry agent should be useful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Lechlade.
I own a leasehold flat in Lechlade. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Lechlade who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lechlade conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
All being well we will complete the disposal of our £425000 apartment in Lechlade in just under a week. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Lechlade?
Lechlade conveyancing on leasehold flats often requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They may invoice a reasonable charge for answering questions 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 required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to sell the property.
Leasehold Conveyancing in Lechlade - A selection of Queries before buying
Please note that where the lease has no more than 80 years it will impact the salability of the flat. Check with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Lechladelease extensions you would need to own the property for two years before you are eligible to extend the lease.
How is the lease structured?
The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the tenants benefit from control and notwithstanding that a managing agent is usually retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.