Frequently asked questions relating to Little Bromwich leasehold conveyancing
I want to sublet my leasehold apartment in Little Bromwich. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your last Little Bromwich conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without prior permission. Such consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I am hoping to exchange soon on a leasehold property in Little Bromwich. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Little Bromwich should include some of the following:
- The total extent of the premises. This will be the apartment itself but might include a loft or basement if applicable.
I’m about to sell my basement flat in Little Bromwich.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
It best that you discharge 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 management companies 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 work for a reputable estate agent office in Little Bromwich where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Little Bromwich conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease 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 proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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 buyer.
Can you offer any advice when it comes to choosing a Little Bromwich conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Little Bromwich conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Little Bromwich conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
I acquired a split level flat in Little Bromwich, conveyancing was carried out 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Little Bromwich with a long lease are worth £255,000. The ground rent is £55 per annum. The lease terminates on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to be between £14,300 and £16,400 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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