Maxton leasehold conveyancing: Q and A’s
I want to rent out my leasehold flat in Maxton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Maxton do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I own a leasehold flat in Maxton. Conveyancing and Santander 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 1992. The conveyancing practitioner in Maxton who previously acted has long since retired.What should I do?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Maxton conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Maxton. Do I have any liability for service charges for periods before completion of my purchase?
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 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).
Can you provide any top tips for leasehold conveyancing in Maxton with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Maxton can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- Many landlords or Management Companies in Maxton charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Maxton.
Completion in due on our sale of a £350000 apartment in Maxton next Monday . The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Maxton?
Maxton conveyancing on leasehold flats normally requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded if you want to sell the property.
I purchased a leasehold flat in Maxton, conveyancing was carried out in 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Maxton with over 90 years remaining are worth £193,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2076
With just 51 years unexpired the likely cost is going to range between £31,400 and £36,200 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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