Top Five Questions relating to Lynton leasehold conveyancing
Frank (my husband) and I may need to let out our Lynton ground floor flat for a while due to taking a sabbatical. We instructed a Lynton conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Lynton do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Lynton. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Lynton ?
Most houses in Lynton are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Lynton in which case you should be looking for a Lynton conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.
Back In 2001, I bought a leasehold flat in Lynton. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Lynton who previously acted has now retired.Do I pay?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Lynton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. 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.
I am employed by a long established estate agent office in Lynton where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Lynton conveyancing firms. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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.
We expect to complete our sale of a £ 425000 flat in Lynton on Thursday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Lynton?
Lynton conveyancing on leasehold flats often involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They may levy a reasonable administration fee 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 transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Lynton Leasehold Conveyancing - Examples of Questions you should consider before buying
-
What is the name of the managing agents?