Guaranteed fixed fees for Leasehold Conveyancing in Maxton

When it comes to leasehold conveyancing in Maxton, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest be sure to choose a lawyer on their panel. Find a Maxton conveyancing lawyer with our search tool

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.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Maxton leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. If you dont have the approvals in place you should not communicate with the landlord without contacting your lawyer in advance.
  • Some Maxton leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • 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.

    Other Topics

    Lease Extensions in Maxton