Frequently asked questions relating to Little Burstead leasehold conveyancing
I wish to rent out my leasehold flat in Little Burstead. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your last Little Burstead conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Planning to exchange soon on a garden flat in Little Burstead. Conveyancing lawyers inform me that they report fully 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 Burstead should include some of the following:
- You should be sent a copy of the lease
What are your top tips when it comes to finding a Little Burstead conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Little Burstead conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Little Burstead conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- Can they put you in touch with client in Little Burstead who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 maisonette in Little Burstead next week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Little Burstead?
For the majority of leasehold sales in Little Burstead conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in Little Burstead
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Little Burstead lease problematic?
Leasehold conveyancing in Little Burstead is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
I own a garden flat in Little Burstead, conveyancing was carried out in 1997. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Little Burstead with over 90 years remaining are worth £241,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ceases on 21st October 2093
You have 72 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. 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 clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.