Questions and Answers: Marske By The Sea leasehold conveyancing
My husband and I may need to sub-let our Marske By The Sea basement flat for a while due to a new job. We used a Marske By The Sea conveyancing firm in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Marske By The Sea conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek consent from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I’m about to sell my basement apartment in Marske By The Sea.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – Do I pay up?
It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Marske By The Sea. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Marske By The Sea are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Marske By The Sea so you should seriously consider shopping around for a Marske By The Sea conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.
I own a leasehold flat in Marske By The Sea. Conveyancing and Virgin Money mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Marske By The Sea who acted for me is not around.Do I pay?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Marske By The Sea conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Are there common problems that you witness in leases for Marske By The Sea properties?
There is nothing unique about leasehold conveyancing in Marske By The Sea. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
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. National Westminster Bank, The Mortgage Works, and TSB 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 is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
I am the registered owner of a studio flat in Marske By The Sea, conveyancing was carried out 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Marske By The Sea with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2097
You have 71 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
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