Mynydd Isa leasehold conveyancing: Q and A’s
I want to sublet my leasehold flat in Mynydd Isa. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your last Mynydd Isa conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
Due to exchange soon on a ground floor flat in Mynydd Isa. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Mynydd Isa should include some of the following:
- How long the lease is 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
I have just started marketing my 2 bed flat in Mynydd Isa.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a busy estate agent office in Mynydd Isa where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Mynydd Isa conveyancing solicitors. Please can you confirm whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
Completion in due on the sale of our £375000 garden flat in Mynydd Isa next Thursday . The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Mynydd Isa?
Mynydd Isa conveyancing on leasehold apartments often requires the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
I bought a 1st floor flat in Mynydd Isa, conveyancing formalities finalised in 2012. Can you work out an approximate cost of a lease extension? Similar properties in Mynydd Isa with a long lease are worth £263,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2087
With just 62 years left to run the likely cost is going to range between £20,900 and £24,200 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
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