Top Five Questions relating to Maryport leasehold conveyancing
I am intending to sublet my leasehold apartment in Maryport. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Maryport conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek permission via your landlord or some other party prior to subletting. The net result is that you cannot sublet without first obtaining permission. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
Looking forward to exchange soon on a garden flat in Maryport. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Maryport should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
- Do you need to have carpet in the flat or are you allowed wood flooring?
- You must be told what counts as a Nuisance in the lease
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What you can do if a neighbour breach a clause of their lease?
I’m about to sell my 2 bed apartment in Maryport.Conveyancing is yet to be initiated 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 pay the service charge 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 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.
Last month I purchased a leasehold property in Maryport. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee 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. A critical element 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).
Completion in due on the sale of our £ 150000 flat in Maryport in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Maryport?
Maryport conveyancing on leasehold apartments more often than not involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to sell the property.
I am the registered owner of a leasehold flat in Maryport, conveyancing was carried out 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Maryport with an extended lease are worth £188,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2095
With only 69 years left to run the likely cost is going to be between £11,400 and £13,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.