Sample questions relating to Longthorpe leasehold conveyancing
Helen (my wife) and I may need to rent out our Longthorpe ground floor flat for a while due to a career opportunity. We instructed a Longthorpe conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Longthorpe conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must seek permission from your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have just appointed agents to market my basement flat in Longthorpe.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.
I've recently bought a leasehold property in Longthorpe. Do I have any liability for service charges relating to a period prior to my ownership?
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. It is an essential part 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).
We expect to complete the disposal of our £225000 garden flat in Longthorpe next week. The management company has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Longthorpe?
Longthorpe conveyancing on leasehold flats normally involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary 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 should you wish to exchange contracts with the buyer.
What makes a Longthorpe lease defective?
Leasehold conveyancing in Longthorpe is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Britannia 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, forcing the purchaser to pull out.
I acquired a 1 bedroom flat in Longthorpe, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Longthorpe with over 90 years remaining are worth £196,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2085
You have 60 years unexpired we estimate the price of your lease extension to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
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