Questions and Answers: Meliden leasehold conveyancing
Helen (my wife) and I may need to sub-let our Meliden 1st floor flat temporarily due to a new job. We instructed a Meliden conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Meliden conveyancing solicitor is not available you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I’m about to sell my garden flat in Meliden.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is pay 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 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've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Meliden. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Meliden ?
The majority of houses in Meliden are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Meliden so you should seriously consider shopping around for a Meliden conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.
I own a leasehold flat in Meliden. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Meliden who previously acted has long since retired.Do I pay?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Meliden conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agent office in Meliden where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Meliden conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a studio flat in Meliden, conveyancing having been completed 2002. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Meliden with an extended lease are worth £257,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2073
With 52 years remaining on your lease we estimate the price of your lease extension to be between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.