Little Burstead leasehold conveyancing Example Support Desk Enquiries
Jane (my partner) and I may need to let out our Little Burstead ground floor flat temporarily due to a career opportunity. We instructed a Little Burstead conveyancing firm in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Little Burstead do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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 permission.
I am hoping to sign contracts shortly on a ground floor flat in Little Burstead. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Little Burstead should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Little Burstead. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Little Burstead are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Little Burstead so you should seriously consider shopping around for a Little Burstead conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.
I am looking at a two flats in Little Burstead which have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Little Burstead. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
Last month I purchased a leasehold property in Little Burstead. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Little Burstead, conveyancing having been completed 2001. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Little Burstead with an extended lease are worth £247,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2102
With 79 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The suggested premium range 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 investigations. Do 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. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.