Sample questions relating to Mortimer leasehold conveyancing
My partner and I may need to rent out our Mortimer 1st floor flat temporarily due to a career opportunity. We instructed a Mortimer conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Mortimer do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Planning to sign contracts shortly on a studio apartment in Mortimer. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Mortimer should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
My wife and I purchased a leasehold house in Mortimer. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Mortimer who previously acted has now retired.What should I do?
First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Mortimer conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of flats in Mortimer which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Mortimer. The lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
If all goes to plan we aim to complete the sale of our £375000 garden flat in Mortimer next week. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Mortimer?
Mortimer conveyancing on leasehold flats usually involves the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I invested in buying a ground floor flat in Mortimer, conveyancing formalities finalised in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Mortimer with an extended lease are worth £263,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2081
With just 55 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
Other Topics