Nantwich leasehold conveyancing Example Support Desk Enquiries
I am intending to sublet my leasehold apartment in Nantwich. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Nantwich do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I’m about to sell my 2 bed flat in Nantwich.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear 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 am employed by a reputable estate agent office in Nantwich where we have experienced a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Nantwich conveyancing firms. Can you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner 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. This means that the buyer 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.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
Can you offer any advice when it comes to finding a Nantwich conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Nantwich conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Nantwich conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
- How many lease extensions has the firm carried out in Nantwich in the last 12 months?
Can you provide any top tips for leasehold conveyancing in Nantwich from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Nantwich can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers solicitors.
- Many freeholders or Management Companies in Nantwich charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Nantwich.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Nantwich leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Where you dont have the consents in place you should not communicate with the landlord without checking with your solicitor before hand.
- Some Nantwich leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should 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 yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
- You believe that you know the number of years left on your lease but it would be wise to double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I am the registered owner of a leasehold flat in Nantwich, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Nantwich with an extended lease are worth £263,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2078
With just 52 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.