Top Five Questions relating to Machen leasehold conveyancing
I would like to let out my leasehold apartment in Machen. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Machen do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse 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.
Planning to complete next month on a studio apartment in Machen. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Machen should include some of the following:
- You should receive a copy of the lease
I own a leasehold house in Machen. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Machen who previously acted has long since retired.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Machen conveyancing practitioner to do this as it can be done on-line for £3. Rest assured 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.
Last month I purchased a leasehold property in Machen. 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. Strange as it may seem, 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 be sure 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £375000 apartment in Machen next week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Machen?
Machen conveyancing on leasehold flats normally requires the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to assist. They are at liberty charge a reasonable administration fee for answering enquiries 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 is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I own a basement flat in Machen, conveyancing was carried out in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Machen with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2076
With only 52 years left to run we estimate the premium for your lease extension to span between £32,300 and £37,400 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.