Questions and Answers: Malpas leasehold conveyancing
I am on look out for some leasehold conveyancing in Malpas. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Malpas - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Helen (my wife) and I may need to let out our Malpas basement flat for a while due to a career opportunity. We instructed a Malpas conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Even though your last Malpas conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I only have 72 years left on my flat in Malpas. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases a specialist may be helpful to conduct investigations and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Malpas.
I have just started marketing my basement flat in Malpas.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear 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 managing agents will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.
Completion in due on our sale of a £300000 garden flat in Malpas in just under a week. The landlords agents has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Malpas?
Malpas conveyancing on leasehold apartments usually requires the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I acquired a 1st floor flat in Malpas, conveyancing was carried out in 1998. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Malpas with an extended lease are worth £173,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2104
With only 79 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
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